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Monday, July 21, 2008

Gazprom to buy 25% in Far East gas supplier from Rosneft

MOSCOW, July 19 (RIA Novosti) - Gazprom said on Saturday it will buy a 25% stake in Daltransgaz, the owner of a natural gas pipeline in Russia's Far East, from the country's largest state-owned crude producer Rosneft. Gazprom CEO Alexei Miller met with Rosneft chief Sergei Bogdanchikov, and the sides signed a cooperation agreement. The acquisition will give the Russian state gas monopoly access to the pipeline's spare capacity on the route from the island of Sakhalin to the port of Vladivostok via Khabarovsk. Russia's Federal Property Management Agency holds a 27.39% stake in the pipeline, and the Khabarovsk Territory controls the remaining 47.59%.

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