Russia's OAO Gazprom has delayed exercising an option with Italy's Eni SpA and Enel SpA due to a string of costly deals planned for next year, the Vedomosti business daily reports Friday, citing the company.
Gazprom had planned to buy 20% of its oil-producing subsidiary OAO Gazprom Neft and a 51% stake in Enineftegaz in 2008 under an option it signed with the Italian pair in April.
However it now only expects to complete the transactions in 2009, with more than $2.5 billion in purchases, including stakes in Rusia Petroleum and OAO TGK-1, planned for next year.
OOO Enineftegaz is a joint venture between the two Italian companies. It won a tender earlier this year for stakes in former OAO Yukos units Arcticgaz, Urengoil and Neftegaztekhnologiya.