Price of Severenergia grows – Novatek and Gazpromneft bargain with Rosneft in absentia

As  Kommersant has got to know, Gazpromneft and Novatek want to outbargain Rosneft’s price proposal and buy 49% of Severenergia from the Italians Enel and Eni. The Russian companies, which have already had 51% of Severenergia, are ready to pay $4.9 billion for shares of the Italians. Sources of the Kommersant say that the situation has led to sharp exacerbation of relations between the Rosneft’s Head, Igor Sechin and the Novatek’s co-owner Gennady Timchenko.

Last week, Novatek and Gazpromneft, which own 51% in the gas-producing company Severenergia, made a proposal to its Italian partners Enel and Eni (which own 19.6% and 29.4% respectively) on purchase of their shares for $4.9 billion, sources, who are familiar with the situation, told the Kommersant. $2 billion were proposed for the Enel’s share and $2.9 billion – for the Eni’s share. But in September Enel agreed to sell its 19.6% for $1.8 billion to Rosneft. Gazpromneft and Novatek hope to “outbargain” this proposal, because they don’t want to see Rosneft in the project, one of the Kommersant’s interlocutors specifies. Rosneft stated to  Kommersant yesterday that the agreement, concluded with Enel, was legally binding. Gazpromneft, Novatek, Enel and Eni declined to comment