OREANDA-NEWS. A Board of Directors’ meeting was held in absentia, reported the press-centre of  Gazprom. The Board of Directors agreed on the sale of a Gazprom 25,000004 per cent stake in Sibur Holding to Gazfond and Gazprom’s acquisition of a 10,0887 per cent stake in Mosenergo from Gazfond. The Gazprom Management Committee was tasked to submit the relevant changes in the Budget 2007 for the Board approval.


Reference:
Power generation is a Gazprom investment policy priority to ensure a significant synergy effect given a large share of natural gas in the fuel balance of energy companies.
At present, Gazprom holds a 19,87 per cent stake in Mosenego representing the Russia-largest power generation company utilizing organic fuel. Mosenergo annually consumes more than 20 bcm of gas.
The Mosenergo stake purchase deal as well as planned participation in a Mosenergo additional share issue will result in Gazprom’s consolidation of a controlling stake in this company.