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

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

MARKET WATCH: Front-month crude oil contract closes up, gas down on week

03/24/2014

The front-month crude oil contract ended the week higher Mar. 21 while natural gas futures prices edged slightly lower.

HSC remains closed, fuel cleanup continues after barge collision

03/24/2014 The Houston Ship Channel (HSC) remained closed to unauthorized vessels Mar. 24 as the result of a temporary emergency safety zone being established...

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

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