The Ministry of Energy will update the program of monetization of Yamal gas reserves by the end of the year

By the end of the year, the Ministry of Energy will update the program for monetizing the gas reserves of the Yamal Peninsula, Russian Energy Minister Nikolai Shulginov told reporters.

He said that the department was instructed to solve this problem by the end of the year.  "We will make it, and when the consideration is scheduled, I am not ready to answer," added Shulginov.  As reported, at the beginning of the year the Energy Ministry developed four options for monetizing the gas reserves of Yamal, the largest assets of which are the Tambeyskoye and Bovanenkovskoye fields of Gazprom.  The first scenario assumes that gas from the Bovanenkovo ​​and Tambeysky (C1 + C2 reserves of 5 trillion cubic meters, owned by Gazprom) of the clusters will be sent to the UGSS (unified gas supply system) to compensate for the drop in production in the Nadym-Pur-Taz region.

According to the second scenario, gas from the Bovanenkovo ​​and Tambeysky clusters is sent to Ust-Luga, where a gas processing plant (GPP), an LNG plant and a gas chemical complex (GCC) are being built.  According to the third option, the Bovanenkovo ​​and North-Tambeysky clusters are developed jointly, the gas processing plant and gas chemical complex are being built at Bovanenkovo ​​and in the port of Sabetta, an LNG plant is being built at Sabetta (now the NOVATEK Yamal LNG plant has been built there).  Finally, the fourth option assumes that the Bovanenkovo ​​and North Tambeysky clusters are developed jointly, gas processing plants are being built at Bovanenkovo ​​and Sabetta, LNG is being built at Sabetta, and the gas chemical complex - in the Far East.

During the discussions, one of the options involving the supply of gas to a unified gas supply system, sources told Interfax, was swept aside.

At the end of October, Russian President Vladimir Putin held a meeting on the development of the resource potential of the Yamal gas fields.  At the beginning of the meeting, the President spoke in favor of building deep gas processing centers directly in the Yamalo-Nenets Autonomous Okrug.  There were no official decisions yet.

Gazprom plans to develop the Tambeyskoye field with RusGazDobycha, although NOVATEK offered the concern joint development, as well as the buyout of the field for money or shares.  Gazprom and JSC RusGazDobycha have already established a joint venture LLC Gazprom Dobycha Tambei, to which it is planned to transfer the licenses.  Production is scheduled to begin in 2026.

The head of NOVATEK, Leonid Mikhelson, said that without directing gas from Tambey for liquefaction, it would be impossible to fulfill the state goals of LNG production in the Arctic.  In mid-October, he also said that NOVATEK had not prepared a resource base to achieve the company's goal of producing 70 million tons of LNG by 2030.  Energy Minister Nikolai Shulginov in early November in an interview with Kommersant said that the potential transfer of Tambey to NOVATEK is "one of the scenarios.”