Novatek, Gazprom Neft Buy ENI's Share In SeverEnergia For $2.94B

Novatek, Gazprom Neft Buy ENIs Share In SeverEnergia For $2.94B
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Τετ, 20 Νοεμβρίου 2013 - 18:14
Russia's No. 2 natural gas producer OAO Novatek (NVTK.RS) and OAO Gazprom Neft (SIBN.RS), the oil arm of the gas giant OAO Gazprom (GAZP.RS) said Wednesday they are buying Italy's Eni SpA stake in gas producer SeverEnergia for $2.94 billion.
Russia 's No. 2 natural gas producer OAO Novatek (NVTK.RS) and OAO Gazprom Neft (SIBN.RS), the oil arm of the gas giant OAO Gazprom (GAZP.RS) said Wednesday they are buying Italy 's Eni SpA stake in gas producer SeverEnergia for $2.94 billion.

The deal cements Russian companies' full ownership of SeverEnergia, in which
Italy 's energy firms used to have a stake.

SeverEnergia, which produces gas on the Yamal peninsula in Russia's Artic, was 51% owned by Gazprom Neft, while the rest was owned by a joint venture, 60% controlled by Italy's Eni SpA, and 40% owned by Enel SpA's (ENEL.MI).

Enel sold its stake in September to state oil giant OAO Rosneft (ROSN.RS) for $1.8 billion, despite receiving an offer to sell from Novatek.

Following the recent deal, Novatek and Gazprom Neft will jointly hold an 80.4% stake in SeverEnergia, with the rest owned by Rosneft.

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