Rosneft Sells Holding to Gazprom

Gazprom said Saturday that it agreed to buy a 25 percent stake in gas transport firm DalTransGaz from Rosneft.

The acquisition, the price of which was not disclosed, is part of a broader deal between the state-controlled energy giants to provide gas to the country's Far East, where DalTransGaz builds and operates gas pipelines.

As part of the deal, Gazprom, which has a monopoly on the country's main gas pipeline network, will give Rosneft access to available transport capacity in the far eastern Sakhalin-Khabarovsk-Vladivostok pipeline, Gazprom said in a statement.

Gazprom and Rosneft will also hold talks with the consortium running the Sakhalin-1 deposit, led by ExxonMobil, to purchase from 1.5 billion cubic meters to 2 bcm of gas to supply the far eastern region of Primorsk.

Under the agreement, the two state-controlled companies will also consider the possibility of pumping additional gas from the Gazprom-controlled Sakhalin-2 project, on the island of Sakhalin, to provide supplies for Primorsk.

Gazprom and Rosneft will also test the transport capacity of the Okha-Komsomolsk-on-Amur gas pipeline as a step toward raising that capacity to 4.5 bcm per year.

As of March 31, 2008, Rosneft owned 25 percent of DalTransGaz, while the federal government owned 27.39 percent and the Khabarovsk regional government owned 47.59 percent, the company's web site says.