Russia's Novatek and Gazprom Neft are gearing up to expand their respective portfolios in West Siberia's Yamal-Nenets region.
Independent gas giant Novatek said its wholly-owned subsidiary Arctic LNG 1 is set to receive a 27-year exploration and development licence for the Soletsko-Khanaveysky block on the Gydan Peninsula after last week coming out on top in an auction for the asset.
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