Gaz de France Wants to Heat Tyumen
Gaz de France held negotiations yesterday with Russian Minister of Industry and Energy Viktor Khristenko and RAO UES of Russia head Anatoly Chubais on the possibility of acquiring electricity assets in Russia, specifically generating company TGK-10, according to a source. Norilsk Nickel, LUKOIL, Surgutneftegaz, Intertekhelektro and the German E.On are also interested in acquiring that company. The talks took place at the World Energy Congress in Rome.
TGK-10 is scheduled for a stock issue in March 2008. In accordance with a decision of the RAO board of directors on October 26, the state share in TGK-10 will be sold at the same time. The new stock issue will equal 57.7 percent of the new authorized capital and the state share will shrink from 81.6 percent to 11 percent. RAO plans to take in at least 46.6 billion rubles for the stock issue and 19 billion rubles for the state share.
TGK-10 consists of six heating and electric plants in Tyumen, Chelyabinsk and the village of Argayash, the Chelyabinsk hydroelectric plant and the heating networks in Chelyabinsk, Tyumen and Surgut.
Competition for the company will be strong. Analysts say that its attractiveness is due to its location, since heating will always be in high demand in that cold region. Gaz de France is interested in combining gas and electric projects in one place.
www.kommersant.com
All the Article in Russian as of Nov. 14, 2007
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