MOSCOW (Dow Jones)--Russia's state-controlled gas monopoly OAO Gazprom (GAZP.RS) is considering increasing its stake in power generating company OAO TGK-1 (TGKA.RS), Interfax agency reported Monday, quoting Gazprom's chief executive Alexei Miller.
Gazprom is already the largest shareholder in the company, which serves St. Petersburg and northwest Russia.
In September, Gazprom, which agreed to buy a 37.8% stake in TGK-1 from its parent company RAO Unified Energy System of Russia (EESR.RS), or UES, for 38.7 billion rubles ($1.55 billion), subscribed to the remaining part of the capital increase in full.
The purchase is subject to antitrust approval.
If approved, Gazprom would own 47% of TGK-1, with UES holding 13.6%, Nickel producer Norilsk Nickel (GMKN.RS) holding 5.6%, and Finish energy company Fortum (FUM1V.HE) holding 25.69%