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Moncrief’s claims are linked to its negotiations with Gazprom over a stake in a Russian oil field and are subject to an arbitration clause of the companies’ 1998 contract, Gazprom said in a filing Monday in federal court in Fort Worth, Texas.
The Yuzhno-Russkoye field, located in the Yamalo-Nenets Autonomous District in the north of Russia, is one of the country’s largest gas fields with the reserves amounting to over 1 trillion cubic meters of gas and 5.7 million tonnes of oil. The license for the field is owned by Gazprom-controlled Severneftegazprom, while Germany’s Wintershall and E.ON each own 25% minus three shares in the field.