6 May 2024 09:53

Russian govt allows gas producers with 80 bln cubic meter min volume to extend licensed operations by up to 4 years

MOSCOW. May 6 (Interfax) - The Russian government has allowed companies, whose combined volume of gas production was at least 80 billion cubic meters in 2022, this year to extend the deadlines for the operations stipulated by mining licenses and other permits.

The changes to a Russian government resolution No. 353, "On the specifics of licensing in the Russian Federation," dated March 12, 2022, are contained in a May 3, 2024 resolution signed by Prime Minister Mikhail Mishustin, which was published on the official website of legal information on Saturday.

The extension is permitted "upon application by an exploiter of mineral resources," which, along with its subsidiaries with a controlling interest of at least 50%, "produced a combined volume of at least 80 billion cubic meters of gas in 2022," the document says. Such operations include mineral exploration, evaluation and survey, among others.

The resolution affects Gazprom and Novatek . According to its website, Gazprom Group produced 412.6 billion cubic meters of natural and associated gas in 2022. Novatek produced 82.14 billion cubic meters of gas in 2022, the company said.