Novatek JSC is considering the possibility of attracting foreign investors for participation in the project Yamal LNG (liquefied natural gas to South Tambeysk field), Novatek’s Board Chairman Leonid Michelson said in an interview with journalists at the port of Pevek (Chukotka), responding to the PortNews correspondent.
Mr. Michelson said the company has been in talks with foreign companies on the issue, but declined to name the potential investors.
The investment decision on the project Yamal LNG, Mr. Michelson said, is expected to be approved in 2013. The project is scheduled to be launched in 2015-2016.
Earlier, Novatek had reportedly cancelled its negotiations with foreign companies on participation in the Y-LNG project, as the company looking for the Russ. Govt.’s decision on the financial support of the projects on the Yamal Peninsula, which might be approved at the end of 2010.
Novatek OJSC is the largest independent and the second largest producer of natural gas in Russia. The Company, founded in 1994, is engaged in the prospecting, production and processing of natural gas and liquid hydrocarbons and has 6.86 billion oil equivalent barrels of proved reserves at the end of 2009. The Company’s fields and license areas are located in the Yamalo-Nenets Autonomous District, the world's largest natural gas producing area, which accounts for over 90% of Russia’s natural gas production and roughly about 20% of world’s gas production.
The Yamal-LNG project is reported to draw 3-4 foreign investors who would acquire a 49-percent stake, while Novatek would hold 51% of the shares. Anglo-Dutch Shell and French Total are said to be interested in the project.
Mr. Michelson said the company has been in talks with foreign companies on the issue, but declined to name the potential investors.
The investment decision on the project Yamal LNG, Mr. Michelson said, is expected to be approved in 2013. The project is scheduled to be launched in 2015-2016.
Earlier, Novatek had reportedly cancelled its negotiations with foreign companies on participation in the Y-LNG project, as the company looking for the Russ. Govt.’s decision on the financial support of the projects on the Yamal Peninsula, which might be approved at the end of 2010.
Novatek OJSC is the largest independent and the second largest producer of natural gas in Russia. The Company, founded in 1994, is engaged in the prospecting, production and processing of natural gas and liquid hydrocarbons and has 6.86 billion oil equivalent barrels of proved reserves at the end of 2009. The Company’s fields and license areas are located in the Yamalo-Nenets Autonomous District, the world's largest natural gas producing area, which accounts for over 90% of Russia’s natural gas production and roughly about 20% of world’s gas production.
The Yamal-LNG project is reported to draw 3-4 foreign investors who would acquire a 49-percent stake, while Novatek would hold 51% of the shares. Anglo-Dutch Shell and French Total are said to be interested in the project.