Gazprom Neft and Novatek’s Yamal Development Confirms SeverEnergia Stake Increase
Yamal Development (a 50/50 Joint Venture between OAO Gazprom Neft and OAO NOVATEK) signed a binding agreement with the Italian energy company, Eni on acquiring a 60% equity stake in Arctic Russia B.V., which owns 49% of the SeverEnergia Joint Venture. The value of the transaction is USD 2,940 million.
The transaction is subject to receipt of necessary approvals. Following completion of the transaction, the effective share of Yamal Development in SeverEnergia will increase to 80.4%.
