Support The Moscow Times!

Gazprom’s SeverEnergia Sale

Gazprom will sell its controlling stake in SeverEnergia, a Russian gas project with Eni and Enel, to a venture that its oil unit has with Novatek, Gazprom said Tuesday.

The participation of Novatek, which has fields and gas condensate processing facilities in West Siberia, will help lower costs and speed up development of SeverEnergia’s deposits, it said in an e-mailed statement. Gazprom Neft, the oil unit, will help develop the project’s crude resources, the company said.

“We consider the acquisition of fields like these in the Yamal-Nenets region, near gas transportation infrastructure and Novatek processing units, to be highly promising,” Novatek spokesman Mikhail Lozovoi said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.