Arktikgaz

OAO Arktikgaz (Russian: Арктикгаз; formerly known as Severneftegaz; not to be confused with Sevmorneftegaz and Severneftegazprom) is a Russian oil and gas company, which operates in the Yamalo-Nenets region. It was created on the basis of the former assets of Yukos. It is a joint venture of Gazprom Neft and Novatek. The headquarters of the company is located in Novy Urengoy, Tyumen Oblast.

OAO Arktikgaz
Native name
Арктикгаз
TypePublic (PAO)
Industryoil and gas
FoundedAugust 1992 (1992-08)
Headquarters
Novy Urengoy
,
Russia
Productsnatural gas
crude oil
OwnerGazprom Neft
Novatek
SubsidiariesUrengoil
Neftegaztekhnologiya
Websitewww.isc-arcticgas.ru

History

Arktikgaz, together with Urengoil and Neftegaztekhnologiya was founded as Severneftegaz which was one of the first independent oil and gas companies in Russia. On 11 August 1998, the American-based Benton Oil and Gas Company acquired a 40% share in Severneftegaz and increased its stake afterwards up to 68%. Other shareholders of this time were Gazprom, Urengoyneftegazgeologiya and Logovaz.

In 2002, in a series of transactions, 100% of Arktikgaz shares were acquired by Yukos. On 4 April 2007, shares in Arktikgaz together with other Yukos-owned companies Urengoil and Neftegaztekhnologiya were acquired by EniNeftegaz, a joint venture of Italian companies Eni (60%) and Enel (40%) created to purchase the former Yukos assets.[1] Later Enineftegaz was renamed SeverEnergia. On 23 September 2009, 51% of SeverEnergia was acquired by Gazprom for US$1.5 billion.[2] In November 2010, Gazprom sold is stake in SeverEnergia to Yamal Development LLC (Russian: Yamal razvitiye), an equally owned joint venture of Gazprom Neft and Novatek.[3][4]

In September 2013, Enel sold its 19.6% stake (owned through a joint venture with Eni, Artic Russia B.V.) to Rosneft for $1.8 billion.[5] In November 2013 Gazprom Neft bought Eni's stake in SeverEnergia for $2.94 billion.[5] Later that year Novatek acquired the Rosneft's stake as a result of the assets swap.[6] In 2018, Gazprom Neft and Novatek merged SeverEnergia and Yamal Development into Artikgaz and equalized their shares in the company.[7]

Operations

SeverEnergia produces the natural gas, condensate, and oil in the Samburg, Yevo-Yakha, Yaro-Yakha, and Severo-Chaselsky licences within and adjacent to the Urengoy gas field.[8] Produced natural gas is purchased by Gazprom.[8][9]

Ownership

51% of shares in SeverEnergia is owned by Yamal Development LLC, a joint venture of Gazprom Neft and Novatek, while 49% is owned by Arctic Russia B.V., a joint venture of Eni (60%) and Enel (40%).[10][8]

References
  1. Stephen Jewkes (2007-04-04). "Eni offers Gazprom option on Gazprom Neft 20 pct stake for 3.7 bln usd". Forbes. Retrieved 2009-10-11.
  2. "Gazprom buys controlling stake in SeverEnergia for $1.6 bln". RIA Novosti. 2009-09-23. Retrieved 2009-10-11.
  3. "NOVATEK, Gazprom Neft JV acquires 51% of Sever Energia for $1.8 bln". Interfax. 2010-11-30. Retrieved 2011-02-19.
  4. "Gazprom Neft to pay $1.5bn for SeverEnergia stake". Upstream Online. NHST Media Group. 2010-11-03. Retrieved 2010-11-18.
  5. Hille, Kathrin (20 November 2013). "Russian groups buy Eni'indirect s stake in Severenergia". Financial Times. Retrieved 12 October 2018.
  6. "Rosneft and NOVATEK Agree Assets Swap" (Press release). Rosneft. 2010-12-23. Retrieved 2018-12-23.
  7. ""Новатэк" и "Газпром нефть" довели доли в "Арктикгазе" до паритетного владения" [Novatek and Gazprom Neft brought shares in Arcticgas to parity ownership]. Rambler. 2018-04-25. Retrieved 2018-12-23.
  8. "Gazprom to sign contract on gas purchase from SeverEnergia" (Press release). Gazprom. 2011-02-17. Retrieved 2011-02-19.
  9. Atkin, Melissa (2011-02-17). "Gazprom, ENI to sign deal for Severenergia gas". Reuters. Retrieved 2011-02-19.
  10. "Gazprom completes acquisition of 51% of SeverEnergia" (PDF) (Press release). Enel. 2009-09-23. Archived from the original (PDF) on 2011-07-22. Retrieved 2009-10-11.
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