Page 12 - FSUOGM Week 45 2021

FSUOGM PROJECTS & COMPANIES FSUOGM

Gazprom teams up with Rusgazdobycha

to develop Yamal gas fields

RUSSIA GAZPROM has created a joint venture with its it access to the fields.
close private partner Rusgazdobycha to develop Novatek controls the nearby Yamal LNG
Gazprom has had rights the giant Tambey fields on the Arctic Yamal plant and is developing several more large-scale
to the Tambey fields Peninsula, the two companies announced on liquefaction projects in the area. Its CEO Leonid
since 2008. November 3. Mikhelson had written to the government argu-
The next step is for the joint venture to receive ing that it would be more profitable to convert
updated exploration and development licences the Tambey fields’ gas into LNG for shipment to
for the Tambey fields, called Tambeyskoye, global markets, rather than pipe it to Europe as
Malyginskoye and Yuzhno-Tambeyskoye and Gazprom had intended.
Syadorskoye. The transfer of the licences to the What is more, the Tambey fields contain
joint venture should take place next year. a high concentration of ethane, and it is easier
Gazprom acquired rights to the Tambey fields to separate this from gas via liquefaction rather
back in 2008 and has held off on their develop- than using more traditional gas treatment
ment while it has focused on ramping up output methods. Gazprom wants to send the gas to a
at the even larger Bovanenkovo field on Yamal, processing complex it is developing in Ust-Luga,
which produces more than 100bn cubic metres using the separated ethane as feedstock for
per year. But the fields’ reserves are considera- petrochemicals.
ble, estimated by Gazprom at around 7.3 trillion In contrast, Novak had proposed teaming up
cubic metres. with Russian petrochemicals giant Sibur to use
It had been expected that Gazprom could the ethane onsite on Yamal.
continue putting off their development. But According to tender disclosures by Gazprom,
the company suddenly announced in May that the Tambey fields are still at the exploration
it would push ahead with the project, targeting phase, with more than 10 exploration wells due
first gas in 2026. This was likely in response to to be drilled there in the next two years to delin-
Novatek trying to convince authorities to grant eate previous discoveries. ™

NEWS IN BRIEF

RUSSIA and his Belarusian counterpart Viktor The energy market regulator ANRE
Karankevich have signed a protocol will review the request and publish a
Gazprom sets guidance on pricing Russian natural gas and its provisional decision on November 10. The
decision will be reviewed in more detail
transportation in 2022, the Belarusian
for 7-year Eurobonds at Energy Ministry said in a statement on by November 30, when the final end-user
November 9.
prices will be set.
2.125–2.25% that Minsk had in 2021, and it will be based on an average import price for natural
ANRE published the request, which is
The price will be based on the conditions
Russian gas giant Gazprom has set the yield formalized in a separate agreement with gas gas of $430 per 1,000 cubic metres. The
guidance for 7-year euro-denominated giant Gazprom. import price as of November 1 is $450 per
Eurobonds at 2.125–2.25% annually, a 1,000 cubic metres.
financial source told PRIME on November The government of Moldova has
5. promised to extend end-user subsidies for
The company held a series of calls with EASTERN EUROPE households and enterprises, but no decision
investors to discuss the offer on November has been announced so far. Moldovagaz’
8. It will collect bids on November 9. Moldovagaz wants to hike management expects a high volume of
Gazprombank, J.P. Morgan, Mizuho unpaid bills if the state fails to provide the
Securities, SberCIB, and UniCredit act as natural gas prices by 2.3 promised subsidies.
the organizers of the placement. Assuming that one third of the natural
times gas is used during the cold season, the
aggregated gas bill for the end-user price
Russian, Belarusian Moldova’s natural gas company asked by Moldovagaz would reach $210mn
for consumption in Moldova proper
Moldovagaz has asked permission to
ministers sign protocol on increase end-user prices by 2.3 times (the breakaway Transnistria region not
included).
from MDL4.13 to MDL9.40 per cubic
gas prices for 2022 metre, or $525 per 1,000 cubic metres (at
an exchange rate of MDL17.9 to the US
Russian Energy Minister Nikolai Shulginov dollar).

P12 www. NEWSBASE .com Week 45 10•November•2021