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Gazprom, Novatek eye Enel’s stake in SeverEnergia

27th September 2013

Russian firms allegedly in talks to acquire Enel’s stake in natural gas provider even though agreements have already been made with Rosneft

Gazprom, Novatek eye Enel’s stake in SeverEnergia
Rosneft recently agreed to buy the stake in SeverEnergia pending regulatory body approvals

Russian firms Gazprom Neft and Novatek are allegedly in talks to buy Enel’s stake in Russian natural gas provider SeverEnergia.


According to Prime Business, Gennady Timechenko, a major shareholder in Novatek told reporters that the two Russian companies have held several talks to buy out Enel’s stake, with the latest talks taking place on Tuesday.


Russian firm Rosneft recently agreed to a USD 1.8bn deal to buy Enel’s 40 per cent stake in Artic Russia B.V. which would indirectly lead to the company owning a 19.6 per cent stake in SeverEnergia, as part of plans to increase its gas output. However, regulatory approvals are still pending.


A Rosneft spokesperson told Dow Jones Newswires that the deal is ‘legally binding’.


SeverEnergia is a joint natural gas production venture with operations in Russia’s Yamal-Nenets autonomous region. The venture owns licenses for nine fields in the region, where proven and probable reserves are estimated at 7.3 billion barrels of oil equivalent.