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May 5, St. Petersburg: Gazprom and RusGasDobycha signed a Memorandum of Cooperation

May 5, 2017

Based on the document the companies will jointly build projects on gas and gas condensate production including gas processing facilities establishment.

May 5, St. Petersburg: Alexey Miller, Chairman of the Management Board of Gazprom and Artem Obolensky, General Director of RusGasDobycha, signed a Memorandum of Cooperation. The companies will jointly move forward with the projects aimed to develop gas-processing facilities using the reserves of the Achimov and Valanzhin deposits of the Nadym-Pur-Taz region, as well as to produce and process gas and gas condensate reserves of the Tambey group within Yamal.

The Tambey group of fields includes North-Tambeyskoe, West-Tambeyskoe and Tasiyskoe fields owned by Gazprom. Recovery of essential components such as Ethane, Propane, Butane and Condensate will be result of the above processing.

The Memorandum outlines cooperation provisions required for the pre-investment stage of the projects. Also, assessment of the technical and economic feasibility of a joint venture establishment aimed to execute the projects is assumed. The first stage includes overall pre-investment study and preparation of Technical & Economic Justification. Fundraising is also included to RusGasDobycha business activity.