* Buys Tambeyneftegas, holds Malo-Yamalskoye licence
* Holds 161 bcm natural gas
* Cost $10 mln
MOSCOW, July 2 Russia's No. 2 gas producer
Novatek NOTK.MM increased its natural gas reserves by 16.4
percent with its purchase of Tambeyneftegas, which holds the
licence to the arctic Malo-Yamalskoye field.
The field, located in Russia's most hydrocarbon-rich region
on the Yamal Peninsuila, holds 161 billion cubic metres (bcm) of
natural gas and 14.4 million tonnes of gas condensate.
The acquisition, costing $10 million, stands in line with
the company's aggressive expansion plan and goal of doubling its
annual production capacity to reach 65 bcm by 2015, up from the
32.8 bcm it produced in 2009.
Novatek, together with Russia's state-owned gas export
monopoly Gazprom (GAZP.MM), has plans to build a liquefied
natural gas (LNG) plant in Yamal that would allow the producers
to ship gas to Asian markets through the northern arctic waters.
Novatek also recently brought France's Total (TOTF.PA) on
board to develop its arctic Termokarstovoye field, selling the
oil group a 44.5 percent stake in license-holding company
(Writing by Jessica Bachman, editing by Alison Birrane)