Novatek-Gazprom Neft JV to buy SeverEnergia stake from Eni

Italy’s Eni SPA plans to sell its stake in gas fields in Russia’s Yamal Peninsula for $2.94 billion to Yamal Development, a 50-50 joint venture of OAO Gazprom Neft and OAO Novatek.

Yamal Development is acquiring Eni’s 60% equity stake in Arctic Russia BV, which owns 49% of the SeverEnergia joint venture, which holds licenses in the region.

After closing, Eni will no longer hold a stake in SeverEnergia. Yamal Development’s effective share in SeverEnergia will increase to 80.4%.

In September, OAO Rosneft agreed to acquire a 40% stake in Arctic Russia from Italian power company Enel for $1.8 billion (OGJ Online, Sept. 24, 2013).

Regarding its presence in Russia, Eni said it is the biggest buyer of natural gas from Gazprom, a major buyer of oil from Rosneft, has a joint venture with Rosneft to explore promising assets in the Black Sea and Barents Sea, and a partnership with Gazprom in the South Stream project.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected