Gazprom eyes UK gas asset
Source: Agencies |
March 29, 2010, Monday
|
Print Edition
Print Edition
RUSSIAN gas export monopoly Gazprom is ready to invest 1 billion pounds (US$1.48 billion) to become one of Britain's biggest fuel suppliers, The Sunday Times reported yesterday.
State-run Gazprom is expected to lodge an offer this week for a network of 800 petrol stations and the Lindsey oil refinery at Killingholme, Lincolnshire, the paper said.
"The assets have been put up for sale by Total, the French oil group. It has hired JPMorgan, the investment bank, to sell its UK business, which employs 5,000 people. The business is expected to fetch more than 1 billion pounds."
Gazprom could not immediately be reached for comment.
The prospect of the state-controlled energy giant owning key parts of the UK oil infrastructure could worry the British government, according to the paper.
"When Gazprom was rumored to be looking at a bid for Centrica, owner of British Gas, in 2006, ministers met to examine the 'possible consequences resulting from any takeover of a major UK energy supplier,'" it said.
Gazprom is expected to bid for the Total assets through its oil arm, Gazprom Neft.
State-run Gazprom is expected to lodge an offer this week for a network of 800 petrol stations and the Lindsey oil refinery at Killingholme, Lincolnshire, the paper said.
"The assets have been put up for sale by Total, the French oil group. It has hired JPMorgan, the investment bank, to sell its UK business, which employs 5,000 people. The business is expected to fetch more than 1 billion pounds."
Gazprom could not immediately be reached for comment.
The prospect of the state-controlled energy giant owning key parts of the UK oil infrastructure could worry the British government, according to the paper.
"When Gazprom was rumored to be looking at a bid for Centrica, owner of British Gas, in 2006, ministers met to examine the 'possible consequences resulting from any takeover of a major UK energy supplier,'" it said.
Gazprom is expected to bid for the Total assets through its oil arm, Gazprom Neft.
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