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

API: US petroleum demand falls in September, third quarter

10/17/2014 Total US petroleum deliveries, a measure of demand, averaged 18.6 million b/d last month, down 3.5% from September 2013, as stated in the latest mo...

MARKET WATCH: Crude futures prices gain some traction in New York

10/17/2014 The New York Mercantile Exchange November crude oil contract gained 92¢ on Oct. 16, closing at $82.70/bbl. The December contract price rose $1.01 t...

Veresen appoints president, CEO for Jordan Cove LNG

10/17/2014 Veresen Inc., Calgary, has named Elizabeth Spomer as president and chief executive officer of Jordan Cove LNG LLC and executive vice-president of V...

ATP-IP settlement marks first joint resolution of CWA, OCSLA claims

10/16/2014 ATP Infrastructure Partners LP (ATP-IP) agreed to pay a $1 million fine and perform corrective measures to resolve federal claims that it violated ...

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