Russia's largest independent gas producer Novatek has closed a 26.893 billion ruble ($867 million) deal to acquire a 51% stake in Sibneftegaz gas producer from Gazprom gas giant, Novatek said on Friday.
Sibneftegaz, which produced 7.3 billion cubic meters of gas in January-September 2010, holds licenses to develop four fields in the northern Russian region of Yamal, which accounts for 90% of the country's gas production and 20% of the world's output. The company's total reserves amount to 400 billion cubic meters.
Novatek, of which about 19.4% stake belongs to Gazprom, produced 26.9 bcm of gas in the first nine months of 2010.
MOSCOW, December 17 (RIA Novosti)
