Yamal project of Gazprom and NOVATEK is frozen

NOVATEK officially announced its alliance with Rosneft in lobbying of the interests of independent gas producers and stopped the largest joint project with Gazprom – the JV's on the basis of their assets in Yamal and Gydan. The project supposed to unite the efforts of NOVATEK and Gazprom in the regions. However, the situation has changed, the positions of the independent consumers strengthened and now they can stop the export monopoly of Gazprom. As a result, the Head of NOVATEK Leonid Mikhelson called the negotiations with Gazprom inefficient and the monopoly admitted, the negotiations had been frozen.

Yesterday Mikhelson claimed, the negotiations with Gazprom (holds 10% of NOVATEK) about joint development of Salmanovskoye (Utrenneye) deposit at Gydan peninsula can’t be called productive.