Gazprom may hold sale of European assets

Gazprom is engaged in the restructuring of foreign assets. In subsequent years, it provides for disposal of major shareholdings, Gazprom Germania reported on Thursday. This takes place "due to changes in economic and political conditions". What assets this will be, the report doesn’t say. Gazprom Germania is a subsidiary of Gazprom export, it owns almost all sale structure of Gazprom abroad, including in the USA and Asia. A representative of Gazprom declined to comment.

A source close to one of the foreign structures of Gazprom says that the optimization primarily involves the sale of assets at the request of the EU Third Energy Package. It prohibits manufacturers and suppliers of gas to own gas transmission infrastructure.

Thus, in June 2014, Gazprom sold 37.1% of Lithuanian Lietuvos dujos and Amber Grid for $163 million to the state. On June 19, the Estonian state-owned company Elering said that it would buy 37% of the company Vorguteenus Valdus, which owns the operator of the Estonian gas transmission system, from Gazprom for 20 million euros. But Gazprom still retains a similar stake in Eesti Gaas, which imports gas into the country. Another 10% of Eesti Gaas are owned by Rosneft through Itera Latvija. A representative of Rosneft couldn’trespond on Thursday, whether the company would sell its shares. But earlier he said that it wasn’t going to increase their number.