Gazprom board give final approval to £13.1 billion Sibneft deal
The board of directors at Gazprom gave final approval to the acquisition of a 75.7% stake in Sibneft, the chairman of the Russian gas monopoly announced this month.
Dmitry Medvedev, also head of the Kremlin administration, said: “The deal to buy Sibneft is an important step toward implementing Gazprom’s strategy as a global energy company.”
With some government figures in Russia now openly criticising the Sibneft buyout, Russian analyst Mikhail Korchemkin told EGM: “Nothing is final in Russia nowadays. We have seen the merger of Yukos and Sibneft when the money has changed hands. Then there was a joint press conference on the final merger of Gazprom and Rosneft. I mean even if money does change hands in the Gazprom-Sibneft deal, it may be reversed any time.”
It also emerged recently that Gazprom could offer its partners assets in Sibneft, one of Russia’s largest independent oil producers, as it attempts to access the growing LNG market in the United States.
Asked if Sibneft might be used in a future asset swap, Russian industry and energy minister Viktor Khristenko said it could not be ruled out, according to comments reported by state-run newswire Ria Novosti.
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