Stanislav Tsygankov, Head of the International Business Department of Gazprom has been appointed Director General of SeverEnergia according to the resolution by the Russian-Italian consortium’s Board of Directors.

Gazprom, as the majority shareholder of SeverEnergia, nominated Stanislav Tsygankov for the position of the joint venture head, and the Italian partners supported the nomination.

Background:

Stanislav Tsygankov was born on July 27, 1966 in Moscow.

He graduated from Plekhanov Russian Academy of Economics getting specialty in Finance and Credit.

From 1995 to 1996 – Deputy Head of the Tax Operations Directorate, Head of the Client Relations Directorate at Guta Bank.

Between 1996 and 1999 – Head of the Financial and Credit Operations Directorate of the State Investment Corporation, afterwards – Deputy Chairman of the Corporation – Head of the Directorate.

In 1999 Stanislav Tsygankov was appointed Deputy Chairman of the Moscow Oblast Finance and Taxation Policy Committee; afterwards – First Deputy Chairman of the Moscow Oblast Finance Minister.

In 2000 he acted as Deputy Chairman of the State Investment Corporation and simultaneously as Senior Vice President of Guta Bank.

From 2001 to 2002 he took managerial positions at the Finance, Economy and Property Relations Department of the Chukotka Autonomous Okrug.

Since 2002 until now – Head of the Foreign Relations Department, Gazprom (presently – International Business Department).

SeverEnergia (originally – ENIneftegaz) was founded by the consortium between ENI and Enel and purchased in 2007 the following assets: Arcticgaz (100 per cent), Urengoil (100 per cent) and Neftegaztekhnologia (100 per cent), which hold hydrocarbons exploration and production licenses in Western Siberia.

On May 15, 2009 Gazprom, ENI and Enel signed the Implementation Agreement setting the terms and conditions for Gazprom to acquire a 51 per cent stake in SeverEnergia. On June 5, 2009 the final Purchase and Sale Agreement for the asset was inked.

On September 23, 2009 Gazprom completed the acquisition of the 51 per cent stake in SeverEnergia and paid off the first tranche. In total, the transaction will be worth around USD 1.6 billion.

Nowadays, SeverEnergia is a joint venture between Gazprom (a 51 per cent stake) and the Italian partners (a 49 per cent stake jointly owned by ENI (60 per cent) and Enel (40 per cent)).