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Russia's Novatek plans to participate in new auctions for Yamal fields

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NOVATEK’s shipyard construction is among Arctic priority projects

ST. PETERSBURG, June 5. /TASS/. Novatek is going to participate in new auctions for Yamal fields and plans to file a corresponding application, the company’s CEO Leonid Mikhelson told reporters.

"I think we will participate. I believe this is a serious opportunity to increase our reserves," he said.

Russia’s Minister of Natural Resources and Environment Sergey Donskoy said earlier that Rosnedra is preparing a draft government order to hold this year's auction for Zapadno-Seyakhinskoye and Verkhnetiuteyskoye fields in the eastern part of the Yamal Peninsula. The volume of gas reserves is estimated at 206.4 bln cubic meters.

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