289
Arctic Yearbook 2013
Scramble for the Arctic Offshore Oli & Gas Resources in Russia
social burden that the company fulfills inside Russia, including gasification of regions and the
implementation of social programs on federal and regional levels.
In turn, Rosneft is gradually fortifying its presence on the gas market and taking steps to weaken
Gazprom‘s position. Firstly, Vlada Rysakova, a former head of the strategic development
department in Gazprom, was appointed as a Vice President of Rosneft to manage the company‘s gas
development policy. Secondly, NOVATEK has shifted its partnership priorities from Gazprom to
Rosneft. In particular, NOVATEK halted the establishment of a joint venture to explore Gazprom‘s
deposits on Yamal and NOVATEK‘s deposits on Gydan peninsula (Topalov, 2013). One of the
major reasons standing behind the company‘s interests‘ switch is the development of the Yamal
LNG project which the company is developing together with the French company TOTAL, which
holds 20% of the project‘s shares. It is planned to launch gas production in 2016, however the
financial part of the project and the future export contacts depend on the government‘s decision
towards LNG export liberalization. Thirdly, the head of Rosneft announced the company‘s
intentions for the LNG plant construction on Sakhalin by 2018.
At the same time, Rosneft expressed its interest in participating in the ExxonMobil project on an
LNG plant construction in the Point Thompson Alaska oil and natural gas field, where Rosneft
holds a 25% stake. According to Maria Belova, a senior analyst at the energy centre of the
―Skolkovo‖ business school, it is possible that Rosneft can fulfill its agreement obligations by
agreeing to participate in the project (Serov, Solodovnikova et al.
,
2013). In the event of project
implementation, Rosneft will have to compete with Gazprom and with its own gas strategy because
the ExxonMobil project also targets Asian countries.
Rosneft has also expressed a strong interest in expanding to the Asian markets. The interest has
been vividly shown during its latest business tour to China and South Korea. During the visit to
China Igor Sechin met the heads of the three leading companies – CNPC, Sinopec and CNOOC.
The meeting discussed the prospective participation of Chinese companies in joint projects on
exploration and production on the Russian continental shelf. Recently, Rosneft signed an agreement
with CNPC to develop deposits in the Barents and Pechora Seas. The company also proposed new
forms of collaboration in the field of LNG transportation. The issue of LNG transportation has
been raised at the meeting with Rosneft and the South Korean companies KOGAS and STX. For
Rosneft the partnership with Korean companies will provide access to technologies and financing,
and will open up new markets for LNG export. In addition, countries represent attractive export
markets for energy resources since prices on LNG are higher in China and Japan than to the
European countries.
The private company NOVATEK has also expressed its interest in expanding its presence in Asian
markets. The possibility of Chinese companies joining the Yamal LNG project emerged just after
the February Asian business tour. Collaboration with Chinese companies would solve two vital
problems: the issue of export markets and the project‘s financing.
The major rival to Rosneft and NOVATEK – Gazprom – also shares a strong interest in exporting
energy resources to Asian markets. In general, Asian markets for Gazprom represent an option for