Rosneft and Gazprom fight for gas

Rosneft was the first company, which applied for a license for the Layavozhsky and Vaneyvissky sites, located in the Nenets autonomous district in the spring of this year. Then it became known that Gazprom decided to challenge this claim. As a result, the licenses will be distributed either in the course of a competition, or in an auction, which will be won by the company, which will offer the highest sum.

The gas reserves of the Layavozhsky site make up about 138 billion cubic meters and the reserves of the Vaneyvissky site - 85 billion cubic meters. Rosneft planned to transfer licenses for them to its joint venture with the Altec Group. The decision to create the joint venture was made at SPIEF, which was held in May. Rosneft will receive a majority stake in the joint venture, which is expected to be established in September this year. Altec will transfer the Kumzhinskoye and Korovinskoye gas fields with reserves (C1 + C2) in the volume of 160 billion cubic meters to it. Just these deposits, located in the Nenets autonomous district, are a resource base for the Pechora LNG project of Altec Group, whish launch is scheduled for 2018, and the initial capacity should reach 2.6 million tons of LNG. Potentially, the project’s capacity can be increased more than two times, if the level of the production at the fields enables to do it.