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Thursday, January 25, 2007

Gazprom Can Buy Any Gas Company

15.01.2007 - [] - Gazprom is finally free to buy any Russian gas producing enterprises after it has succeeded in reversing the state competition watchdog’s regulation? Kommersant daily. There are now no obstacles for Gazprom to set up monopoly not only on exports but also on the whole gas production in Russia. Experts say that oil companies will remain the only alternative gas suppliers in Russia. Many of them, however, are already selling their gas business to Gazprom. A regulation of the Russian Federal Anti-Monopoly Service as of 2005 on the merger of Gazprom and Nortgaz restricting Gazprom in buying up gas assets has been invalidated in three instances last summer, Igor Artemyev, head of the competition watchdog said Friday. The order was substantially restricting the Russian gas giant in acquiring any new assets. Last summer, Gazprom bought 51 percent in Sibneftegaz, which owns a large gas deposit, and started negotiating other big gas deals.

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