The largest Russian independent gas producer OJSC NOVATEK is not engaged in negotiations with AK ALROSA in respect of acquisition of its gas assets, according to a recent statement by NOVATEK Chairman Leonid Mikhelson, cited by PRIME news agency.
“We do not hold these negotiations, as our vision in respect of value of those gas assets does not comply with that of ALROSA,” – Mikhelson noted.
At the beginning of 2012 ALROSA signed an agreement of intent with Zarubezhneft stipulating sale of 25% plus one share in Geotransgaz (GTG) and 36% stake in Urengoi Gas Company (UGC). Meanwhile ALROSA did not preclude further sale of its shares in both companies should it obtain an attractive offer.
GTG and UGC hold licenses for exploration and extraction of hydrocarbon reserves within the borders of Beregovoye and Ust-Yamsoveiskoye license areas, correspondingly, both located in the Yamalo-Nenets Autonomous District. The areas bear gas resources estimated at 187 billion cubic metres of gas and 26.4 million tonnes of gas condensate, valued at $4.38 billion.
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