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Monday, September 29, 2008

Gazprom sets up offshore subsidiary

RBC, 29.09.2008, Moscow 11:58:24. – Gazprom has obtained a 100-percent stake in its new subsidiary, the Russian energy giant said in a statement today. The details of the deal have not yet been announced. Earlier, head of Shtokman Development Yury Komarov said, however, that Gazprom intended to establish a special purpose entity (SPE) for implementing its offshore projects, including geological surveys of offshore fields and their development. The SPE is expected to ultimately become the holder of the licenses of Sevmorneftegaz, the Gazprom-Rosneft joint venture created to develop and operate offshore fields.

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