Source Pravda.Ru

Gazprom to sell its non-core assets

Gazprom is planning to sell its non-core assets worth 9bn rubles (about $286.6m) in 2002, head of the corporate finance department of the gas giant Alexey Kruglov declared at a conference organized by the Renaissance Capital investment group today. Talking about the results of managing assets in 2001, he remarked that Gazprom had restored control over its subsidiary - the Sibur oil and chemical plant - and over its 32-per cent stake in Purgaz, that had earlier belonged to Itera.

In addition, Kruglov pointed out that Gazprom had declared an additional issue of shares of its subsidiary Zapsibgazprom illegal and settled all problems concerning its non-core activities. In the near future, a special common department will be established in the gas giant, that will be responsible for planning and managing non-core assets.

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