Russ Oil-Gas

RBC, 26.02.2008, Moscow 15:58:56. – Gazprom and Siberian Coal Energy Company (SUEK) have signed an agreement on the creation of a joint venture, the two companies stated in a joint press release today. According to the document, SUEK will issue additional shares, which are to be sold to Gazprom's subsidiaries in exchange for the gas holding's power generation assets, including its 15.61-percent stake in OGK-2, 17.13-percent stake in OGK-6, 5.27-percent stake in OGK-5, and a 5-percent stake in TGK-5. As a result of the deal, Gazprom is expected to hold 50 percent plus one share in the newly-created joint venture. The parties intend to approach Russia's anti-monopoly agencies for a permit to close the deal. However, the Federal Anti-Monopoly Service has not yet given a go-ahead for the deal, insisting that it still needs to carry out an analysis of the situation that is likely to arise in the energy sector in 2011-2012 in light of the two companies' plans.