UPDATE: Russian govt mulls extra Gazprom payment to ’15 divs–min

(Adds background in fourth, comments in fifth paragraph)

SOCHI, May 20 (PRIME) -- Additional contributions to the federal budget from Russian gas giant Gazprom in 2016, apart from the dividends for 2015, are not ruled out, Economic Development Minister Alexei Ulyukayev told reporters on Friday.

The ministry earlier prepared a directive to order Gazprom to pay about 175 billion rubles in dividends for 2015. The dividends will account for 21.8% of the company’s net profit under International Financial Reporting Standards (IFRS) for 2015, which is lower than the minimum set earlier for state companies by an order of Prime Minister Dmitry Medvedev, stipulating a 50% of net profit dividend payment.

“As regards whether some additional money transfer (in addition to the dividends for 2015) can arrive from the company (Gazprom), this issue is being discussed. We do not rule out that the company will acquire the shares, the American depositary receipts (ADRs) of Gazprom which are on the accounts of Vnesheconombank (VEB), some other decisions are possible as well,” Ulyukayev said.

Earlier on Friday, business daily Kommersant reported that VEB can sell its 0.892% common share and 2.7% ADR stake in Gazprom to four companies affiliated with the gas maker for 132 billion rubles.

Energy Minister Alexander Novak said that there is no final decision on the deal. “This issue is on the agenda, indeed, it is being considered, no final decisions have been made so far, we are working on the economic side of this proposal.”

(66.2110 rubles – U.S. $1)

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