Novatek to receive $980M for gas firm stake sale

Russia's No.2 gas producer, Novatek, has agreed to sell a 9.8% stake in SeverEnergia to Gazprom Neft for $980 million, in a deal that would split control over the gas firm evenly, according to Reuters.

Before the deal, Novatek controlled 59.8% of the joint venture, with Gazprom Neft holding the remaining 40.2% equity stake.

Reuters notes that, SeverEnergia, with assets in Russia's north, is expected to produce 36 billion cubic meters of gas and liquids per year by 2017.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...