Gazprom, NOVATEK look to set up JV for Yamal, Gydan by yr-end
ST. PETERSBURG. Jan 10 (Interfax) - A Gazprom - NOVATEK joint venture for developing the Tambei group of deposits on the Yamal and Gydan peninsulas will be founded before this year ends, Gazprom CEO Alexei Miller told the press.
"Agreement has been reached to work up a financial feasibility study before July 1, and the stakes and the amount of input by each party will be determined and an evaluation of the stakes will be done before August 1. A joint venture will be created before the end of the year," Miller said.
"Today we are looking at the possibility that this will involve a doubling of production volume as regards what was envisioned in NOVATEK's initial plans. I mean 16.5 million tonnes. Considering the resource base Gazprom has, we can even talk about doubling the production of natural gas on Yamal," the Gazprom chief said.
Markets in the Asia-Pacific Region are seen now as the priority markets for the sale of liquefied natural gas from the Yamal peninsula, Miller said.
