Novatek to acquire four gas deposits in Yamal: report

Novatek, the Russian independent gas producer, is seeking to acquire four gas deposits in the Yamal Peninsula from Gazprom, Russian business daily Vedomosti reported November 29.

According to the report, the company is in talks with Gazprom to buy the group's four large deposits in the Yamal, which have reserves of 2.65 trillion m³. The article referred to a letter from Russian Energy Minister Alexander Novak to President Vladimir Putin, dated November 11.

The Yamal LNG plant whilst under construction earlier this year (Photo source: Novatek)

Currently, Novatek is building the Yamal LNG plant, which will eventually have liquefaction capacity of 16.5 metric tons (three trains of 5.5mn mt each). The company wants to acquire Severo-Tambeiskiy, Zapadno-Tambeiskiy, Malyginskiy and Tasiyskiy gas deposits, located close to the Yuzhno-Tambeiskiy deposit, which would serve as a resource base for Yamal LNG, the report added.  The cost of the Yamal LNG project stands at $27bn. 

Two companies are holding talks on the use of deposits in the Yamal, but so far they have not submitted their position on the deal to Russian Energy Ministry, the report said.

Murat Basboga