Official: OMV buys 24.99% in Gazprom’s unit Severneftegazprom

MOSCOW, Jul 13 (PRIME) -- The Russian government’s commission for foreign investment control has approved purchase by Austria’s OMV of 24.99% in gas giant Gazprom’s affiliate Severneftegazprom, operator of the Yuzno-Russkoye field, for 1.808 billion euros, Igor Artemyev, head of the Federal Antimonopoly Service, told reporters on Thursday.

“As a result of the deal, Gazprom will maintain control …This company controls 1.1 trillion cubic meters of gas, a fantastic amount. The price of the deal is 1.808 billion euros,” he said, adding that OMV Exploration and Production company will buy the 24.99% stake.

In March, OMV said it planned to buy a 24.99% stake in Russia’s Yuzhno-Russkoye oil and gas condensate deposit from Uniper for U.S. $1.85 billion, plus cash on the balance as of December 31, 2016.

OMV will buy stakes in two companies – Severneftegazprom and Gazprom YRGM Development – and acquire rights for 24.99% of production of the field. OMV’s supervisory board approved the deal earlier, and it will come in force retroactively from January 1, 2017.

Gazprom owns a 40% stake in Severneftegazprom, while Wintershall Holding GmbH owns 35% and Uniper has 25%.

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