Novatek secures gas block in north Krasnoyarsk region

Russia's Novatek has secured rights to the Yeniseysky subsoil area in the north of the Krasnoyarsk territory, the company announced on December 19.

The block, adjacent to Novatek's South-Leskinsky licence area, "is located in a new highly prospective oil and gas province with resource growth potential in the Palaeozoic and Jurassic reservoirs," the company said. The licence term is 27 years.

Novatek has been steadily expanding its gas resource base in the Russian Arctic over recent years, to underpin an expansion in its LNG exports. But uncertainty hangs over the company's future liquefaction projects, as a result of sanctions imposed by the West in response to Moscow's invasion of Ukraine.