OREANDA-NEWS. The Board of Directors of OJSC “Gazprom” agreed on Gazprom’s acquisition of not more than 11 500 000 000 shares of additional share issue in Mosenergo.

The Management Committee was tasked to submit the relevant changes in Gazprom’s Investment Program and Budget 2007.

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.

In March 2007 at the meeting the Gazprom 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 Mosenergo stake purchase deal as well as planned participation in a Mosenergo additional share issue resulted in Gazprom’s consolidation of a controlling stake in this company.