UPDATE: Putin meets with buyers of Rosneft’s 19.5% stake

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MOSCOW, Jan 25 (PRIME) -- President Vladimir Putin has met with participants of the purchase of a 19.5% stake in Russia’s oil major Rosneft -- Glencore International, the Qatar Investment Authority (QIA) and Intesa Sanpaolo bank, PRIME reported on Wednesday.

Putin congratulated the companies with a successful deal, adding that the 19.5% stake’s market price has already increased by 18%. He said that Rosneft is interested in long-term cooperation with Glencore and QIA and would like Intesa to extend its presence in Russia. The president assured the companies that all previous agreements concerning the Rosneft stake will be fulfilled.

“I know that all of you plan to develop cooperation with the company, including on the territory of Russia. We will comply with all the agreements. This is in line with interests of all the participants,” Putin said, adding that QIA will take part in hydrocarbon projects in Russia, and Glencore has already started preparing a long-term contract to sell Russian oil on the global market. “I am sure your business in Russia will prosper.”

QIA head said it had signed another U.S. $2 billion investment deal with the Russian Private Equity Fund on Tuesday, and added that joint investment in St Petersburg-based Pulkovo airport were planned. “I hope that your work with the Russian Private Equity Fund will expand in additional directions,” Putin said.

Glencore CEO Ivan Glasenberg said his company and Rosneft were considering swap agreements and a possibility to sell Russian oil in India, China and other Asian markets via Glencore’s chain, adding that the company has a lengthy experience of operations with Russia-produced coal and aluminum.

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