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UPDATE 2-Russia's Gazprom plans Singapore stock exchange listing
May 15, 2014 / 7:10 AM / in 3 years

UPDATE 2-Russia's Gazprom plans Singapore stock exchange listing

(Releads with Gazprom confirmation)

MOSCOW, May 15 (Reuters) - Russia’s Gazprom is working on obtaining a listing in Singapore, possibly in July, the company said on Thursday.

The comments confirmed an earlier report by Interfax which said that state-controlled Gazprom, the country’s top natural gas producer, was talking to the exchange and preparing paperwork.

“We want to have another platform on which our shares are traded,” Gazprom spokesman Sergei Kupriyanov said. “We are now working on the question of obtaining a listing in Singapore.”

Gazprom, which is negotiating a deal to supply natural gas to China, said it wanted to have another platform on which its shares were listed. It did not give a reason for the move.

“I consider the chances (of obtaining a listing in Singapore) are high, if Gazprom said it should be done,” said Viktor Zubkov, chairman of Gazprom’s board of directors.

Gazprom’s shares are traded in Moscow. It also has American Depositary Receipts listed on the London Stock Exchange and traded on the U.S. over-the-counter stock market as well as on the Berlin and Frankfurt Stock Exchanges , according to its website.

Russian President Vladimir Putin hopes the negotiations with China will be concluded before he visits Shanghai next week, showing Moscow has alternative markets to turn to at a time of tension with the West over the crisis in Ukraine.

Russia and China are still trying to iron out price differences over the potential deal.

Reporting by Oleysa Astakhova and Denis Pinchuk, Writing by Megan Davies, Editing by Timothy Heritage

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