Moscow, 24 April, 2006.OAO NOVATEK today reported preliminary production data for the first quarter 2006. Gross production totaled 7.26 billion cubic meters of natural gas and 637 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 0.62 billion cubic meters, or 9.3%, whereas gross liquids production increased by 113 thousand tons, or 21.7%, as compared with the corresponding gross production in the first quarter 2005 (excluding asset disposals)

In the first quarter 2006, NOVATEK processed 528 thousand tons of unstable condensate at the Purovsky processing plant. Polymer production from OAO NOVATEK-Polymer totaled 4.8 thousand tons.

NOVATEK hydrocarbon production for the first quarters 2006 and 2005

Information provided in this press release presents expected results of OAO NOVATEK operation in the first quarter 2006. It was generated based on the latest preliminary operational and financial data which haven’t been audited. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on the NOVATEK operation results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecast operation results in 2006. ??? NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.