May 1, 2010

Putin proposes merger of Gazprom and Naftogaz

Friday, April 30, 2010, 16:54
Russian Prime Minister Vladimir Putin proposed a joint venture in the gas field with Gazprom and Naftogaz.
Putin said that on Friday at a meeting with his Ukrainian counterpart Mykola Azarov was talking about integration in the nuclear field, but "we're ready for integration and in the gas sector.

"I propose a merger of Gazprom and Naftogaz Ukraine", - said Putin.

In his turn, Gazprom chairman Alexei Miller said that Gazprom, Naftogaz of Ukraine and Ministry of Energy of Russia and Ukraine after the May holidays will discuss the unification of Gazprom and Naftogaz.

"We will discuss this issue In the nearest future" - he said. "We will discuss a possible exchange of assets, and in essence this is a merger of companies" - added Miller.

Miller said that Gazprom has experience in exchange of assets with German and Italian partners.

He noted that Ukraine has considerable assets in mining, transportation and preservation of underground gas. "Gazprom also has very significant assets," - he added.

"We have huge reserves. It will be enough gas for everybody in the XXI century “- Miller added.

The head of Gazprom said that Russia would like to invest in mining and in the gas transport system of Ukraine.

"We certainly will be interested to invest in gas transportation system of Ukraine. We are therefore interested in joining and investing in production facilities, and transmission system facilities" - said Miller.

The leader of opposition Yulia Tymoshenko said Sursday that this would mean a takeover of entire Ukrainian energy potential in favour of Russian corporations and political absorption of Ukraine.

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