Project overview GASTECH, London Gleb Luxemburg October, 2012 - PowerPoint PPT Presentation

Yamal LNG Project overview GASTECH, London Gleb Luxemburg October, 2012 CEO, Yamal LNG

Disclaimer Yamal LNG This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity in any jurisdiction. Neither this presentation nor any part thereof, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The information contained in this presentation has not been independently verified. The information in this presentation is subject to verification, completion and change without notice and neither the Company is under any obligation to update or keep current the information contained herein. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its respective members, directors, officers or employees nor any other person accepts any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation and the information contained herein does not constitute and should not be construed as an offer to sell or the solicitation of an offer to buy securities in the United States as defined in Regulation S under the US Securities Act of 1933 (the "Securities Act"). Any securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The Company has not registered and does not intend to register any portion of the Offering in the United States or to conduct a public offering of securities in the United States. This presentation does not constitute a public offering or an advertisement of securities in the Russian Federation and does not constitute an offer or a proposal to make offers or to acquire any securities in the Russian Federation. This presentation contains "forward-looking statements" which include all statements other than statements of historical fact. Such forward-looking statements can often be identified by words such as "plans," "expects," "intends," "estimates," "will," "may," "continue," "should" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward- looking statements speak only as at the date as of which they are made, and none of the Company or any of its respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice. Yamal LNG Project | London | October 10, 2012 1

Project overview Yamal LNG Pilot LNG project on the Yamal Peninsula, Russia • Onshore field / 2P gas reserves 879 BCM • 16.5 mtpa of LNG (3 trains) • 1 mmt of gas condensate • LNG plant and port at Sabetta • Sponsors – NOVATEK (80%) and TOTAL (20%) • Supported by Russian government 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Concept, surveys, pre-FEED (done) FEED (completed, optimization ongoing), State permits Final Investment Decision (FID) Early works, EPC LNG plant startup by trains Yamal LNG Project | London | October 10, 2012 2

Yamal Peninsula Yamal LNG • The Yamal Peninsula is located in the north of Western Siberia and is bordered by the Kara Sea to the west and by the Gulf of Ob to the east • Its administrative center is Yar-Sale and the Peninsula has a total population of 16,100 inhabitants • The Yamal territory is located in the tundra zone. The peninsula consists of mostly permafrost soil - permafrost depths to 300-500 meters • The Peninsula’s relief is characterized as smooth with altitude variations of less than 90 m. Average altitude is approximately 50 meters above sea level • Long-lasting ice cover (about 300 days a year). Swamps and lakes cover over 60% of the territory Average annual temperature -9 °С °С 15 10 5 0 I II III IV V VI VII VIII IX X XI XII -5 -10 -15 -20 -25 -30 Polar Polar day Night Yamal LNG Project | London | October 10, 2012 3

Project Site Overview Yamal LNG • One field based integrated project Port & MOF • Close proximity of gas production facilities to LNG Plant Well pads LNG plant Operation camp • Integrated gas treatment and liquefaction facility Construction • Well prepared field Camp infrastructure Air Strip 10 km Yamal LNG Project | London | October 10, 2012 4

Geology and field development Yamal LNG Geology • Onshore location, with possible offshore extension in Northern dome North-East 118Р 3391 115Р • Cretaceous sandstone reservoirs between 900 and 3392 8394 3393 4392 87Р 4391 86Р 2391-2 8392 6391 5392 8391 8393 3394 2800m 116Р 3221 82Р 5391 3222 84Р 3223 3224 93Р 4221 • 3225 Appraised by 58 wells (3 drilled and tested in 2011-2012) 119Р 83Р 3351 3352 3352-2 7351 4351 1351 3353 3354 1352 113Р • 4352 3355 Field covered by 3D-seismic 3401 73Р 3402 1401 4401 Central dome 117Р К42 1П 4422 3403 7Р К40 1041 4041 1421 1402 71Р 4421 4403-2 3404-2 4042 1042 4061 1043 1061 1403 3404 2411-2 4021 4062-2 Field Development 1021 3011 7441 79П 5П 91Р 7444 1062 4411 5061 4063 2412-2 К44 70П 4Р 1022 72Р 14Р 7 4 4 3 3012 1013 3021 Sabetta 6П 80П 5021 8444 К41 3022 8442 8445 1 8443 4 4 1 75Р 21Р 2021-2 1012 3431 5431 2431-2 5022 2441-2 7445 5011 7431 7442 2014-2 8 4 3 3 8432 3441 4071 8 0 7 5 8441 3013 5075 7074 4441 8071 8074 1 4 1 3 109Р 8 4 3 1 8073 8076 7451 2432-2 7073 2071-2 8072 7071 • 105Р 1433 2072-2 8451 106Р Production plateau 27 bcm/year 5072 7 7 0 5 110 157Р К43 5074 1 3 4 2 1 0 7 1 7072 1072 1451 2П 97Р 85Р 8Р 3072 5071 2073-2 2452-2 1073 98Р 1453 К45 3071 4431 4451 3Р 1452 8474 94Р 112Р 5471 7471 8471 4471 5474 88Р • 3471 3472 5472 4302 Peak condensate production at 1.1 mmt/year in 2020- 4301 11Р 114Р 5302 4472 2471 4291 4262 5473 К47 108Р 76Р 3473 8472 3.1 5301 3301 8476 7301 7302 4303 2301 81Р 6471 4261 5475 5303 4461 2461 89Р 5461 3461 2021 8464 10Р 4462 100Р 90Р К46 8462 8463 3251 101Р 5253 2251-2 4251 • Southern dome 2252 208 production wells, deviated and horizontalized over 2322Р 4 2 5 3 4252 3252 5251 5252 2321П 2324Р 500m Распре д е ле ние ф онд а эксплуатационны х скваж ин • Ю ТГКМ по кустам 2 rigs are mobilized in 2012 to start drilling April 2013 куст количество скважин Купол ЦК втомчисле ЦК Объект Пласт Кол воскважин ЮВК ЦК СВК ЦК ЦК ПК ЦК ЦК ХМ ХМ • ЮВК Wells will be drilled on 19 clusters on 3 domes ЦК ОАО "НОВАТЭК" ТП ТП ЦК Инв. № экз. ОАО "Ямал СПГ" ЮВК 2011 г. ТП ТП Изготовлено ЦК экземпляров СВК ТП ТП Тюменская ЦК область ЦК ФОНД ЭКСПЛУАТАЦИОННЫХ СКВАЖИН ТП ТП Ямало- ЦК ЮЖНО-ТАМБЕЙСКОГО МЕСТОРОЖДЕНИЯ Ненецкий ТП ТП ЦК автономный ЦК округ ТП ТП Масштаб 1 : 100 000 ЦК ЮВК Всегопоместорождению 2 км ЮВК 1000 м Приложение Руководитель договора: Составил: Еринов В.Г. лист , экз. Ответственный исполнитель: Компьютерная графика: Yamal LNG Project | London | October 10, 2012 5