Rosneft decides against bid for Alrosa's gas assets for now
MOSCOW – Rosneft has decided against bidding for gas assets being sold by diamond miner Alrosa, at least for now, the Russian energy company said on Wednesday, saying the auction terms were unacceptable.
The world's largest producer of rough diamonds plans to sell its gas assets in Russia's Yamalo-Nenets region in an auction on February 19 and has set a starting price of 30-billion roubles ($519-million).
Rosneft and its subsidiary Bashneft had applied to the Federal Anti-Monopoly Service (FAS) for clearance to take part in the auction.
"We have applied for the permission to take part in the auction, the request itself is not participation," Rosneft spokesman Mikhail Leontyev said.
He said Rosneft had misgivings about the resources of the deposits.
It also did not agree with the sales terms, according to which the future buyer would not be able to log claims with the seller in the event the resources turn out to be lower than initially stated.
"At the moment, with the information we have about the asset, we can't risk the interest of our shareholders. We won't play under such rules," the spokesman said, adding that Rosneft had filed complaints to the FAS, Finance Ministry and subsoil agency Rosnedra.
Earlier on Wednesday, the head of FAS, Igor Artemyev, said the regulator would analyse the sales terms, Interfax news agency reported.
Russia's top non-state gas producer Novatek has said it is interested in buying Alrosa's gas fields. The Finance Ministry has said that seven bidders were expected to take part in the auction.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation