NOVATEK Acquires Regional Gas Distributor

Source: www.gulfoilandgas.com 12/28/2012, Location: Asia

OAO NOVATEK announced the acquisition of an 82% participation interest in the share capital of OOO Gazprom Mezhregiongas Kostroma (“Gazprom Mezhregiongas Kostroma”) for a total consideration of RR 554 million. Gazprom Mezhregiongas Kostroma supplies natural gas to a wide range of consumers in the Kostroma Region (the “Region”).

In the first nine months of 2012, Gazprom Mezhregiongas Kostroma supplied 2.7 billion cubic meters (bcm) of natural gas to the Region. During the same period, NOVATEK supplied 0.461 bcm to the Region.

According to NOVATEK’s Chairman of the Management Board, Leonid V. Mikhelson, “The acquisition of Gazprom Mezhregiongas Kostroma is another step in the implementation of the Company’s marketing strategy, providing for the expansion into strategic regions as well as increasing the share of end-customers in our total natural gas sales volumes mix”.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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