Bloomberg News

TNK-BP Holds Talks to Buy Vekselberg’s Gas Distribution Assets

November 25, 2011

Nov. 23 (Bloomberg) -- TNK-BP, Russia’s third-biggest oil company, said it has entered talks to buy a natural-gas distribution business from billionaire Viktor Vekselberg’s ZAO Integrated Energy Systems.

“We are in talks to buy Gazeks,” as the unit is known, Mikhail Slobodin, executive vice president of TNK-BP’s gas division, told reporters at a conference in Moscow today. He declined to elaborate.

Gazeks comprises 11 gas distribution companies in the Urals region, Siberia and Ukraine, according to its website. Vekselberg is a shareholder in TNK-BP, whose biggest Russian competitors are OAO Rosneft and OAO Lukoil.

--Editors: Amanda Jordan, Alastair Reed

To contact the reporters on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net; Anton Doroshev in Moscow at adoroshev@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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