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Gazprom neft' OAO and Novatek OAO Negotiate Purchase of Enel SpA’s Stake in SeverEnergia-Interfax

Wednesday, 25 Sep 2013 02:27am EDT 

Interfax reported that Gazprom neft' OAO (Gazprom Neft) and Novatek OAO (Novatek) are engaged in talks over the purchase of the Italian energy company Enel SpA’s (Enel) stake in SeverEnergia that Rosneft is looking to buy, Novatek co-owner Mr. Gennady Timchenko told the press. Gazprom Neft chief Mr. Alexander Dyukov declined to comment on the subject of SeverEnergia. Rosneft announced that it had reached agreement with Enel to buy 40% in Arctic Russia B.V., which would mean indirect ownership of a 19.6% stake in SeverEnergia LLC. Rosneft subsidiary Itera Oil and Gas Company LLC, which consolidates the Rosneft group's gas assets, will be acquiring the stake. The deal, with a price tag of $1.8 billion, will be completed on the condition it is approved by regulatory agencies and other authorities. SeverEnergia is a joint gas production venture with assets in Yamal-Nenets Autonomous Region of Russia. A 51%-stake is held by Yamal Development, a joint venture of Novatek and Gazprom Neft, established on a parity basis. 49% stake is held by Arctic Russia B.V., a joint venture between Italian Eni and Enel, where the parties hold 60% and 40% respectively. 

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