Alexander Ryazanov, ex-deputy chairman of Gazprom and chairman of Gazprom Neft.
Photo: Grigoriy Sobchenko
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Gazprom and Rosneft to Tug Slovakian Oil Pipeline
// They might trade Transpetrol between each other
Russneft said it gave up the idea to buy 49 percent of Transpetrol pipeline company, in favor of Gazprom Neft, meeting the request of the company’s former head Alexander Ryazanov. However, experts believe it will be Rosneft to buy the share in Transpetrol. Yet, the planned construction of the Baltic Pipeline System’s second extension (BTS-2) will make the Transpetrol asset less attractive.
Russneft, which wanted to buy 49 percent of Slovakian pipeline company Transpetrol in 2006, said Wednesday that it gave up the idea in favor of Gazprom Neft, satisfying the request of its former head Alexander Ryazanov. Transpetrol is the operator of Slovakia’s part of the Druzhba pipeline with capacity of about 20 million metric tons. Transpetrol’s 49 percent belongs to YUKOS through Holland’s Yukos Finance, and the rest – to the government of Slovakia.
Yukos Finance (together with its Transpetrol shares) will be up for sale in mid-August, within the YUKOS bankruptcy sales. The cost of Transpetrol is estimated at $100 million, and the whole Yukos Finance is worth 7.6 billion rubles (nearly $300 million). In summer 2006, Gazprom was in talks on buying the Transpetrol shares from YUKOS.
However, experts believe it will be Rosneft (and not Gazprom) to buy Yukos Finance. Rosneft has never showed interest to Transpetrol, but it has already acquired nearly all YUKOS assets. Nevertheless, experts say that Rosneft might buy Transpetrol and later sell it to Gazprom, or exchange for some other assets.
Meanwhile, Russia considers building the Baltic Pipeline System’s second extension (BTS-2). It will carry the oil which is now transported to Europe through the Druzhba pipeline. If this project is implemented, it will make the Transpetrol asset less attractive.
www.kommersant.com
All the Article in Russian as of July 26, 2007
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