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  Thursday, September 24, 2020
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Yakutia will hold an auction to sell a natural gas deposit
The auction will be held in Yakutsk, the capital of Yakutia, on September 21 at 11:00 a.m. local time, the regional agency for subsoil use said. Applications will be accepted through September 1, and bidders will have to deposit 3.5 million rubles (about $122,000) no later than September 15. The size of the one-off payment to win the right to develop the gas deposit will be the auction's main criterion. Auction organizers are inviting businesses registered in Russia to participate in the bidding. Businesses are expected to offer safe and efficient geological exploration and production, qualified personnel, and the required financial resources and equipment. The natural gas condensate deposit is located on the Tyung River in Yakutia, and its gas reserves are estimated at over 2.9 million cubic meters. The auction's winner will finance hydrocarbon production expected to equal about 50 million cubic meters per annum
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