YAMAL LNG RECEIVES FULL LNG PROJECT SANCTION

Moscow, 20 March 2013. JSC Yamal LNG (hereinafter the “Company”) announced today the receipt of a positive state expert review opinion issued by Russia’s Glavgosexpertiza, including state environmental approval (similar to the receipt of an Environmental Impact Assessment common in international practice), fully sanctioning construction of the liquefaction plant on the Yamal Peninsula.

Glavgosexpertiza approved the design documentation and survey results for the “Construction of the Integrated Facility for Natural Gas Production, Treatment and Liquefaction with Associated Storage and Off-Loading Facilities for LNG and Gas Condensate of the South-Tambeyskoye gas condensate field (hereinafter the “Project”).

In addition, the Subsurface Management Department of the Yamal-Nenets Autonomous Region (YAMALNEDRA) issued a construction permit for the LNG plant to be built at the South-Tambeyskoye field.

The receipt of the approval by Glavgosexpertiza, as well as receipt of the permit for the construction of the integrated facilities for treatment and liquefaction of natural gas enables the Company to move to the next stage of the Project execution – construction of the LNG plant and requisite infrastructure at the South-Tambeyskoye field.

Background Information

In October 2010, the Russian Government approved a Comprehensive Plan geared to develop production of liquefied natural gas on the Yamal Peninsula. Yamal LNG was selected as a pilot project, which envisages the construction of a liquefied natural gas (LNG) plant with annual capacity of over 16 million tons based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012, were appraised at 907 billion cubic meters of natural gas. The Project also requires the construction of transport infrastructure including a new, strategic Arctic sea-port and airport located at Sabetta (north-east of the Yamal Peninsula).

JSC Yamal LNG is the project originator and is owned by NOVATEK (80%) and TOTAL (20%).

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pr@yamalspg.ru