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Gazprom does not want to join SPP consortium

RUSSIAN company Gazprom will not enter a shareholder structure in the Slovak gas company SPP. Gazprom will therefore not use an option gained during the privatization of SPP in 2001.

"It would make no sense for us to enter a consortium," Alexander Medvedev, the boss of Gazprom told Reuters, the Hospodárske noviny business daily reported. However, it is still not clear whether Medvedev’s reply represents an official statement from Gazprom because Gazprom did not inform either SPP or the Slovak Economy Ministry about the decision. The Economy Ministry is a 51 percent owner of SPP.

Gazprom entered into the privatization process of 49 percent of SPP in a consortium with Ruhrgas and Gaz de France in 2001. The German and French companies paid for the 49-percent share and Gazprom obtained a two-year option to buy one third of the 49 percent share. Later the option was extended until the end of this year.

Compiled by Marta Ďurianová from press reports
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