Eni has sold its stake in Artic Russia, which in turn holds 49% of Severenergia, owner of four hydrocarbon exploration and production licenses in the Yamal Nenets region. The agreement with the buyers of Yamal Development, a joint venture between Novatek and Gazprom, was signed today.
The cost of the transaction is $2,94 billion in cash, payable at closing. At the end of the operation, Eni will no longer have any stake in Severenergia, but will monetize its investment in the Siberian upstream, creating value for its shareholders.
In the late morning, the shares of the Italian energy giant advanced by 0,39%, in contrast with the Italian stock market, which travels in negative territory.
