Today, JSC Gazprom’s Management Committee has approved the acquisition of a 72.663 percent stake in JSC Sibneft from Millhouse Capital.

The Management Committee also endorsed the purchase of a Sibneft 3.016 percent stake from Gazprombank.

These transactions are pending approval by Gazprom’s Board of Directors.

“We’ve been consistent in meeting the strategic challenge of diversifying our business portfolio and transforming Gazprom into a world-class energy company. The oil business is a core activity of Gazprom. Given the obvious synergy, Gazprom and Sibneft’s businesses will enhance Gazprom’s operating efficiency both in Russia and global oil & gas markets,” – declared Alexey Miller, Chairman of Gazprom’s Management Committee.

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