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Gazprom Neft, Novatek in talks to buy Enel' s stake in SeverEnergia

BY OLGA RAZUMOVSKAYA

MOSCOW -- Gazprom Neft and Novatek are also in talks to buy Enel' s stake in Russian natural gas producer SeverEnergia, a major shareholder in Novatek told reporters, Prime news agency reports.

"Novatek and Gazprom Neft are holding negotiations to buy out Enel' s stake, at least as of yesterday they were," Gennady Timchenko was quoted as saying.

Rosneft agreed to buy Enel' s stake in SeverEnergia for $1.8 billion, in an attempt to boost its gas output.

Rosneft spokeswoman told Dow Jones Newswires that the deal is "legally binding" and an Enel spokesperson wasn' t immediately available for comment.

While the agreement is still "subject to regulatory and other approvals" according to Rosneft, should it be given a green light, it will allow Rosneft to buy a 19.6% stake in SeverEnergia by purchasing Enel' s 40% stake in a joint venture with Eni. Gazprom Neft, the oil arm of state gas firm Gazprom, and Novatek hold 51% of SeverEnergia, which holds licenses on the Yamal peninsula in Russia' s Arctic.

Mr. Timchenko said that Novatek and Gazprom Neft have been holding talks about the share for a while.

Dow Jones Newswires

09/25/2013

 

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