Gazprom to receive electric power plants in Europe in asset swap

Gazprom to receive electric power plants in Europe in asset swap

Gazprom to receive electric power plants in Europe in asset swap

The FINANCIAL -- According to RIA Novosti, Gazprom [RTS: GAZP] could receive electric power plants in Europe in an asset swap with Germany's E.ON, the press office of the Russian energy giant said on December 16.

 

Gazprom and E.ON have drawn up a list of potential assets for the exchange in which E.ON will participate in a project to develop the Yuzhno-Russkoye gas condensate field in northwest Siberia while Gazprom will receive stakes in E.ON's assets in western and central Europe.

 

The assets included in the list are currently being valuated, Gazprom said.

 

The Yuzhno-Russkoye deposit, for which Gazprom subsidiary Severneftegazprom holds a license, has 805 billion cubic meters of proven gas reserves, and 5.7 million tons (42 million barrels) of proven oil reserves.