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The Eastern Economic Forum 2016: Gazprom, PJSC and RusGasDobycha, CJSC agreed to establish a joint venture aimed to develop a group of fields within the Yamal-Nenets Autonomous Area

September 2, 2016

Following to the agreements reached at the St. Petersburg International Economic Forum in June 2016, RusGasAlliance, LLC, a project-made company, will be parity-based established by RusGasDobycha and 100% subsidiary of Gazprom (Gazprom dobycha Yamburg), LLC that is a production license Owner.

The new Agreement, signed in Vladivostok, specifies the procedure for establishment and operation of the project company. The Parties agreed on earning capacity characteristics of the coming project and its marketing concept, including sale philosophy for the natural gas produced. Early phase activities required for the Final Investment Decision have been listed.

During preparatory phase RusGasAlliance will prepare investment justification for the project, perform FEED and develop design & engineering documentation required for the fields development and transportation infrastructure construction prior to joining to the gas transportation system of Gazprom. In addition, RusGasAlliance will be engaged to screening and selecting of potential contractors. Furthermore, the company and potential customers/ buyers should finalise and agree the purchase conditions for the natural gas.

The work deliverables will be selection and determination of the project configuration, amount of investment and financing structure. Final Investment Decision will be taken in case the project complies with the criteria specified in the Shareholders’ Agreement signed in June 2016.