TotalEnergies has decided to divest its 49% stake in the Termokarstovoye gas condensate field in Siberia, Russia. The share will be sold to Novatek, which recently acquired TotalEnergies’ portion of the field’s operator Terneftegaz.
The transaction has already been approved by Russian authorities. It is estimated that it will be concluded in September this year.
With the acquisition, Novatek will fully own Termokarstovoye as well as a gas treatment unit, a gas network and a gas de-ethanisation plant.
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