OREANDA-NEWS. September 28, 2009. Russia is prepared to allow foreign companies to do business in the hydrocarbon-rich Yamal Peninsula, where proven reserves could meet global gas demand for five years, in exchange for technology and access to their assets. On Thursday Russian Prime Minister Vladimir Putin met with top managers of the world’s biggest energy concerns - Royal Dutch Shell, Total, Kogas, Mitsui, Mitsubishi, StatoilHydro, E.ON, Eni, GDF Suez, ExxonMobil and ConocoPhillips. Virtually all these majors hold assets in Russia and plan to expand the list of acquisitions. “We’re prepared to enlarge our cooperation ties.

The main condition on our part is that cooperation be stable and long-term,” Putin said at a meeting in the capital of the Yamal-Nenets Autonomous District. For the record, the Yamal Peninsula, part of the Yamal-Nenets Autonomous District, and adjacent water areas is home to 11 gas and 15 gas condensate fields, proven and preliminary estimated reserves of which total around 16 tcm of gas, with probable and predicted resources estimated at some 22 tcm of gas.