“Gazprom” and “RusGazDobycha” are creating the project company for development of extractive fields in Yamal

The board of directors of “Gazprom” took note of the information about the course of fulfillment of the joint project on development of Parusovoye, Severo-Parusovoye and Semakovskoye fields situated in Yamal-Nenets Autonomous Okrug.

This September “Gazprom” and “RusGazDobycha” signed the basic agreement on terms of fulfillment of this project. Work on creation of the joint project company is being conducted in conformity with the agreement. In particular, the basic agreement contains the order of founding and functioning of the project company, targeted parameters of profitability of the future project, the marketing concept, including principles of selling of extracted natural gas and also the list of activities of the preparatory stage, which should be fulfilled before taking the final investment decision. According to agreements, the 100-percent affiliated enterprise of “Gazprom” and the owner of licenses for development of extractive fields “Gazprom dobycha Yamburg” and “RusGazDobycha” will establish the project company – “RusGazAlyans” – on the parity basis. On the preparatory stage the company will develop substantiation of investments of the project, will conduct design and survey work and will prepare project documentation on development of fields and creation of transport infrastructure up to entrance into the gas transport system of “Gazprom”. Also “RusGazAlyans” should define potential contractors and coordinate terms of purchase of natural gas with future purchasers. By the results of this work it is planned to define configuration of the project, amounts of investments and structure of financing, as the office of information of “Gazprom” informs. At conformity of the project to the parameters given in the basic agreement the sides will take the final investment decision about its fulfillment.