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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.