Yakutsk Fuel and Energy Company

The Yakutsk Fuel and Energy Company (Russian: Якутская топливно-энергетическая компания, commonly abbreviated YATEC / ЯТЭК) is a Russian gas production and fuel company headquartered in Yakutsk, in the Republic of Sakha (Yakutia). It traces its origins to 1967, when the Yakutsk gas field administration was created within the Tyumengazprom production association, and it is regarded as the oldest and principal gas-producing enterprise of the republic. Its core business is the search, exploration and production of natural gas and gas condensate at fields and licensed subsoil blocks in Yakutia, together with processing of unstable gas condensate and sales of refined fuel products. YATEC operates industrial development of the Srednevilyuyskoye and Mastakhskoye gas-condensate fields and holds a portfolio of ten licensed gas field blocks. According to company data, its gas reserves (categories A, B1, B2, C1, C2) stand at 659 billion cubic metres and gas condensate reserves at 36.9 million tonnes, with annual gas production of about 1.96 billion cubic metres and annual processing of 123.3 thousand tonnes of unstable gas condensate. Revenue in 2023 was reported at RUB 8.2 billion. The company describes itself as the only enterprise supplying gas to the central districts of Yakutia and the city of Yakutsk, and it is included in Russia's list of systemically important enterprises in the fuel and energy sector. Beyond natural gas, YATEC's product portfolio includes stable gas condensate (KGS), automotive propane-butane and technical propane-butane. These products are sold wholesale in 16 regions of the Russian Federation. The company is a public joint-stock company (ПАО) whose shares are traded on the Moscow Exchange; its market capitalisation was shown on its website at RUB 43 billion. It has held an A(RU) credit rating from ACRA with a stable outlook since 2020, and in 2025 Expert RA restored a rating at ruA- level. Ownership has changed significantly in recent years. YATEC was formerly part of the Summa holding, whose founder Ziyavudin Magomedov was arrested in April 2018 on fraud charges. In 2018 the company changed its status to public, and in 2019 A-Property, controlled by Albert Avdolyan, became the majority shareholder. The company is pursuing the Yakutsk LNG project, which envisages construction of a main gas pipeline of more than 1,000 km from YATEC's fields to the coast of the Sea of Okhotsk and a coastal LNG plant in Khabarovsk Krai. YATEC also emphasises social development in Yakutia, having built dozens of social facilities and created thousands of jobs, and it runs community events such as the SyrFest gastro-music festival in Kysyl-Syr.

The history of the Yakutsk Fuel and Energy Company is closely tied to the development of the gas industry in Yakutia. In September 1954 the Yakut Geological Administration was given a three-year term to search for oil and gas. In 1956 the first gas field in Yakutia, the Ust-Vilyuyskoye field, was discovered, followed in 1963 by the Srednevilyuyskoye gas-condensate field. In 1963 construction began at Ust-Vilyuy of a field gas distribution station and the Taas-Tumus–Yakutsk main gas pipeline. In October 1967 an order of the USSR Ministry of the Gas Industry established the Yakutsk gas field administration within the Tyumengazprom production association in Yakutsk; this order is considered the starting point of YATEC's history. In the same year the Taas-Tumus–Yakutsk–Pokrovsk pipeline, the first pipeline built on permafrost, was constructed. In 1968 the first gas from the Ust-Vilyuyskoye field was delivered to Yakutsk, beginning the gasification of the republic. Until the 1980s Yakutsk remained the only gasified city in the Russian Far East. In 1973 the Mastakhskoye gas-condensate field was put into industrial operation. In 1974 the Yakutgazprom production association of the USSR Ministry of the Gas Industry was created. In 1975 the main gas treatment unit at the Mastakhskoye field was commissioned with a capacity of 3 million cubic metres of gas per day. Over the following decades YATEC developed new fields in the difficult climatic conditions of Yakutia, supplied heat and energy to residents and enterprises of Russia's northernmost region, and built dozens of vital social facilities. In 1994 the enterprise was transformed into an open joint-stock company, and in 2010 it received its current name. YATEC was formerly part of the Summa holding group. In April 2018 Summa's founder Ziyavudin Magomedov was arrested on fraud charges. In 2018 the company changed its status to public. In 2019 A-Property, controlled by Albert Avdolyan, became the majority shareholder of YATEC. The company describes 2019 as the beginning of a new historical stage, with new promising areas of activity, increasing volumes of extracted raw materials and progressive approaches to production management. On 29 November 2019 it was announced that 6 of 7 members of the board of directors had been re-elected, and on 7 December 2019 Andrey Korobov was appointed General Director for a three-year term, replacing Leonid Chugunov, who had resigned after 2.5 months in the post. In the 2020s YATEC continued to operate as a public joint-stock company supplying gas and fuel to the republic. It pursues the Yakutsk LNG project, which includes construction of a main gas pipeline more than 1,000 km long from YATEC's operating fields to the coast of the Sea of Okhotsk and construction of a coastal LNG plant on the shore of the Sea of Okhotsk in Khabarovsk Krai. The company also continues its social role in Yakutia, running community and cultural events such as the SyrFest festival in Kysyl-Syr, the settlement closely associated with its operations.

• 2025

  Expert RA restored a credit rating at ruA- level.

• 2020

  ACRA assigned YATEC an A(RU) credit rating with a stable outlook.

• 2019

  A-Property, controlled by Albert Avdolyan, became majority shareholder; board re-elected; Andrey Korobov appointed General Director.

• 2018

  Company changed its status to public; Summa founder Ziyavudin Magomedov arrested in April on fraud charges.

• 2010

  Company received its current name, Yakutsk Fuel and Energy Company.

• 1994

  Enterprise transformed into an open joint-stock company.

• 1975

  Main gas treatment unit at the Mastakhskoye field commissioned with capacity of 3 million cubic metres per day.

• 1974

  Yakutgazprom production association of the USSR Ministry of the Gas Industry created.

• 1973

  Mastakhskoye gas-condensate field put into industrial operation.

• 1968

  First gas from the Ust-Vilyuyskoye field delivered to Yakutsk; gasification of the republic begins.

• 1967

  Yakutsk gas field administration established within Tyumengazprom; Taas-Tumus–Yakutsk–Pokrovsk pipeline, the first on permafrost, constructed.

• 1963

  Srednevilyuyskoye gas-condensate field discovered; construction begins at Ust-Vilyuy of a field gas distribution station and the Taas-Tumus–Yakutsk main gas pipeline.

• 1956

  First gas field in Yakutia, the Ust-Vilyuyskoye field, discovered.

• 1954

  Yakut Geological Administration given a three-year term to search for oil and gas.

The oldest and principal gas producer of the Republic of Sakha (Yakutia), the sole supplier of gas to central Yakutia and Yakutsk, and a systemically important Russian fuel and energy enterprise.

• Natural gas

  Core product; supplied to central Yakutia and Yakutsk.

• Stable gas condensate (KGS)

  Processed and sold wholesale.

• Automotive propane-butane

  Fuel product sold wholesale in 16 regions of Russia.

• Technical propane-butane

  Industrial fuel product.

• Diesel fuel

  Refined fuel product listed on the company website.

• Gasoline fraction

  Refined fuel product listed on the company website.

1. 1Якутская топливно-энергетическая компания — official websiteyatec.ru
2. 2История компании — official websiteyatec.ru
3. 3Общая информация — official websiteyatec.ru
4. 4Кысыл-Сыр — official websiteyatec.ru
5. 5Yakutsk Fuel and Energy Company — Wikidatawikidata.org
6. 6Якутская топливно-энергетическая компания — Wikipedia (Russian)ru.wikipedia.org