On September 21, REDI (UK) Ltd has handed back 51 percent of shares of JSC Northgas to Urengoygazprom Ltd, as stipulated by the amicable agreement sealed between Urengoygazprom, Northgas and Northgas’ shareholders.
Northgas today convoked its Shareholders’ Meeting.
The Shareholders’ Meeting took a resolution to reincorporate Northgas from Public Joint-Stock Company into Private JSC.
The Meeting also elected a new Board of Directors including:
1. Gennadiy Isaakovich Kolesnikov, Executive Director of Northgas;
2. Alexander Viktorovich Krasnenkov, Deputy Director General of JSC Sovcomflot;
3. Olga Petrovna Pavlova, Member of JSC Gazprom’s Management Committee, Head of Gazprom’s Asset Management Department;
4. Kirill Gennadiyevich Seleznyov, Member of Gazprom’s Management Committee, Head of Gazprom’s Department of Marketing, Processing of Gas and Liquid Hydrocarbons, General Director of Mezhregiongaz Ltd;
5. Sergey Petrovich Tupitsin, General Director of Northgas.
The Meeting endorsed intra-corporate by-laws governing the activity of Northgas’ management bodies.
At today’s meeting of Northgas’ Board of Directors, held parallel to the Shareholders’ Meeting, Alexander Krasnenkov and Sergey Tupitsin were elected as Northgas’ Board of Directors’ Chairman and Director General, respectively.
The Board of Directors elected a Management Board comprised of five persons: Sergey Petrovich Tupitsin, Boris Alexeyevich Zimin, Vyacheslav Valeriyevich Sotnikov, Anna Eduardovna Khrustalyova and Gennadiy Gennadiyevich Yanson.
On 10 June 2005, JSC Gazprom, Urengoygazprom Ltd and JSC Northgas’ shareholders sealed a legally binding Agreement stipulating the conveyance by Northgas’ shareholders of the 51% stake in Northgas to Urengoygazprom, mutual settlement of all legal and other controversies between the parties and joint management of Northgas for the purpose of enhancing its market capitalization.
On 15 September 2005, an arbitration court of the Yamal-Nenets Autonomous Area gave its sanction to an amicable agreement between Urengoygazprom, Northgas and Northgas’ shareholders.
Northgas was founded in 1993 to develop the Neocomian deposits of the North Urengoy gas condensate field with 332.7 bcm of gas and 52.4 mln t of condensate & oil in overall reserves.
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