Wintershall Deal, OMV stakes in Yuzhno-Russkoye project valued at 7.8 bln rubles in "Russification" process

MOSCOW. March 23 (Interfax) - Stakes in companies created for the "Russification" of Gazprom's joint venture with Wintershall Dea and OMV to develop the Yuzhno-Russkoye oil and gas field have been valued at 7.8 billion rubles by B1 Consult and Prime Minister Mikhail Mishustin has confirmed the valuation.

This refers to Severneftegazprom LLC, 49.99% of which was valued at 1.8 billion rubles, and Gazprom YuRGM Trading LLC and Gazprom YuRGM Development LLC, stakes of 0.01% in which have been valued at 3 billion rubles each.

The Yuzhno-Russkoye field, which is located in the Krasnoselkupsky district of the Yamalo-Nenets Autonomous District, has A+B+C1+C2 gas reserves of more than 1 trillion cubic meters. It went into operation in October 2007.

Gazprom Group companies have received stakes in the newly registered legal entities that are equivalent to their previous interests in the project. Stakes equivalent to the equity interest of the foreign companies have been registered to the new companies themselves.

The shares in Severneftegazprom, Gazprom YuRGM Trading and Gazprom YuRGM Development held on these companies' books are subject to valuation and are being offered for sale to insurer Sogaz at the market price in accordance with procedures set by the government.

The proceeds from the sale of the stakes in these LLCs will be deposited by the buyer in a C-type account opened for the former foreign shareholders in line with the Russian president's decree of March 5, 2022.