ZAO Northgas (russian: ЗАО Нортгаз) is a natural gas-producing company in Russia. It is a developer of the
North-Urengoy (Severo-Urengoyskoye) gas field in the
Yamalo-Nenets region. According to
DeGolyer and MacNaughton
DeGolyer and MacNaughton is a petroleum consulting company based in Dallas, Texas, with offices in Houston, Moscow, Astana, Buenos Aires, and Algiers.
DeGolyer and MacNaughton was founded in 1936 by Everette Lee DeGolyer and Lewis MacNaughton.
...
, it controls a total reserves of 368 billion cubic metres of natural gas. All produced gas is acquired by Gazprom.
[
]
History
Northgas was founded in 1993 to develop the North-Urengoy field.
[
] The company was controlled by
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
through its subsidiary Urengoygazprom, which owned a 51% stake in Northgas.
[
] 44% of the company was owned by
Bechtel Energy, while Tansley, an offshore company owned by the Azerbaijani businessman
Farkhad Akhmedov had a stake of 5%.
[
] A license for the North-Urengoy field was transferred from Urengoygazprom to Northgas in 1994.
[
] In 1996, Bechtel sold its stake to Akhmedov-owned Farcot Group, which later also took over a stake owned by Transley. In 1999–2001, Farkhad Akhmedov gained full control over Northgas through the three emissions of additional shares and signing-off the existing share capital.
[ Its ownership was transferred to the holding company REDI.][
]
Northgas started natural gas production in 2001. However, due to a dispute with Gazprom, the access of produced gas to the gas transportation system of Russia was limited and the Northgas license of the North-Urengoy field was annulled. In 2005, the dispute was resolved by Gazprom acquiring a 51% stake in Northgas free of charge.[
][
] Gazprom owns its stake through Urengoygazprom.[
]
A new dispute between the Farkhad Akhmedov's holding company REDI and Gazprom arose in 2008 over a gas price and access to the gas transportation system.[
In January 2011, a Russian power producer ]Inter RAO
Joint Stock Company Inter RAO UES (russian: Публичное акционерное общество «ИНТЕР РАО ЕЭС», short form: Inter RAO), traded as, is a diversified energy holding company headquartered in Moscow, Russia. Its ...
announced that it will acquire REDI, which holds 49% take in Northgas for US$1.5 billion. Inter RAO made similar offer to Gazprom to acquire a full control of the company.[
] However, this transaction was not completed. In 2012, the stake owned by REDI was acquired by Novatek
Novatek (russian: ПАО «НОВАТЭК», , ) is Russia's second-largest natural gas producer (behind Gazprom), and the seventh-largest publicly traded company globally by natural gas production volume. The company was originally known as OAO F ...
for $1.4 billion.[
] In 2013, Gazprom transferred additional 1% of shares to Novatek and two companies became equal partners.[
]
References
External links
* {{official, http://www.northgas.ru/
Natural gas companies of Russia
Gazprom subsidiaries
Industry in the Arctic