In the third quarter of 2010, the Russian Energy Ministry will submit a program on developing subsoil wealth on the Yamal peninsula which will include privileges for a project to produce liquified natural gas - the Yamal LNG project, Russian Energy Minister Sergey Shmatko told journalists in Moscow.
Shmatko noted that the program was being drafted on instructions from the Cabinet of Ministers and added it would be confirmed by a government act. The program envisions privileges, "so that the project to set up large, commercially attractive LNG production in Yamal will be attractive", the minister said.
Yamal SPG (in which a controlling stake is held by Novatek and 20 percent belongs to Gazprom) holds the licences to geological surveying and hydrocarbon production on the South-Tambey field which was discovered in 1974 and which is located north-east of the Yamal peninsula.
Russian Energy Ministry To Submit Amendments to Government Program on APG Projects in Yamal
Source : Oil and Gas Eurasia