Novatek-Gazprom JV Pays $3B For Russian Energy Assets

Law360, New York (November 21, 2013, 2:36 PM EST) -- A joint venture between Russian gas producers Novatek and Gazprom Neft will pay Italian oil giant Eni SpA $2.94 billion for its 60 percent stake in an oil and gas holding company in a deal that indirectly bolsters the venture's exploration and production assets in Russia, Eni announced Wednesday.

Eni said in a statement that it has agreed to sell its stake in Arctic Russia in an all-cash deal to Yamal Development, a joint venture between Novatek, Russia's largest independent gas producer, and Gazprom Neft. The...
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