ALROSA may return to open sale of oil and gas assets

After May 1 of 2014, ALROSA may return to negotiations with a wide circle of interested parties about the sale of oil and gas assets in case if Rosneft refuses to buy them, two sources close to the company told the Vedomosti. After the expiration of the agreement with Rosneft,  ALROSA will consider any other variants concerning disposal of these companies, ALROSA’s vice president Ilya Ryaschin said during the teleconference.

Previously, ALROSA planned to repay its short-term debt ($1.4 billion) before December 20, 2013  through the sale of gas assets (Geotransgaz, Urengoy Gas Company, Irelyakhneft and  Alrosa gas) for $1.38 billion to Rosneft, but it never happened. Rosneft postponed the implementation of the transaction until March 31 of 2014. Rosneft wasn’t satisfied with results of the gas assets audit, Ryaschin reported. "The audit of gas reserves showed that their level didn’t change as compared with their initial assessment and its results didn’t suit Rosneft," - said the top manager.

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