OREANDA-NEWS. The Board of Directors’ meeting has adjourned at the Gazprom Headquarters. The Board of Directors agreed on the acquisition by Gazprom of a 78,3% stake in Gas-Oil that is owned by Mostransgaz, Lentransgaz, Intercom, TKP PRANT and Meridian - ART, reported the press-centre of  Gazprom. The transactions will result in Gazprom’s share in Gas-Oil growing to 100%. The RosUkrEnergo AG performance issue will be addressed at one of the next Board of Directors’ meetings after an international audit of the company’s accounts is completed.

Reference: Gas-Oil was founded in 1992 and registered in the city of Kaliningrad. The company’s major business lines are: comprehensive measures aimed at designing and constructing all types of gas pipelines, gas storage facilities, gas distribution stations, motor vehicle fuelling stations, gas networks and other related infrastructures; gas & derivatives marketing and processing.

In the above business sectors, Gas-Oil is a leader in the Kaliningrad Oblast. Over the past decade Gas-Oil has been effectively furthering the economic interests of Gazprom in the region. Gas-Oil has the potential necessary for meeting the present-day and prospective challenges of Gazprom Group on the territory of the Kaliningrad Oblast and adjoining areas. At present, Gazprom, Mostransgaz and Lentransgaz own a 58,8% stake in Gas-Oil. In 2006 Intercom, TKP PRANT and Meridian - ART decided to sell off all their shares in Gas-Oil making up a total of 41,2%. The preemptive right to acquire the said shares is held by Gazprom. Furthermore, given that the activity of Gas-Oil is not a core business for Mostransgaz and Lentransgaz, it has been considered expedient to alienate their stakes in Gas-Oil.