License to Yuzhno-Russkoye field transferred to 'Russsified' entity
MOSCOW. July 5 (Interfax) - The license to the Yuzhno-Russky hydrocarbon block has been transferred from Severneftegazprom JSC to Severneftegazprom LLC, set up to "Russify" ownership of the project.
The new license was issued on July 2 and will be valid until December 31, 2043, according to the register of subsoil areas and licenses.
The Yuzhno-Russkoye oil and gas field, located in the Krasnoselkupsky district of the Yamalo-Nenets Autonomous District, went on stream in October 2007. Category A+B+C1+C2 gas reserves exceed 1 trillion cubic meters.
Several new legal entities for the so-called "Russification" of ownership of Gazprom's joint projects with foreign partners, namely Germany's Wintershall Dea and Austria's OMV, were registered on July 2, data in the Unified State Registry of Legal Entities (USRLE) indicate.
This specifically involves the companies responsible for developing the Yuzhno-Russkoye field, namely Severneftegazprom LLC, Gazprom YURGM Trading LLC, and Gazprom YURGM Development LLC.
The companies of the Gazprom group in the new LLCs have received stakes similar to the respective participation in the previous companies. Stakes equivalent to foreign participation have been registered under the names of the new companies themselves. The stakes in Severneftegazprom, Gazprom YURGM Development, and Gazprom YURGM Trading, respectively, which are on the balance sheets of the companies, must undergo evaluation and be offered to SOGAZ for acquisition at market value in the manner determined by the government.
The stakes in Achimgaz, Achim Development, and Achim Sbyt, respectively, which are to be transferred to the respective balance sheets of the established LLCs, are subject to assessment and are offered for sale to Gas Technologies LLC. Bank Rossiya established a subsidiary with this name in St. Petersburg in 2023.
The proceeds from selling the respective LLCs' equity stakes to Gas Technologies LLC are credited by the purchasers to Type C accounts opened by each company under the name of the corresponding stakeholders of Achimgaz, Achim Development, and Achim Sbyt, respectively, as per the Russian presidential decree dated March 5, 2022, in proportion to the value of the shares in the equity capital of the respective companies.