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Rosneft Announcement Regarding Gazprom Position on the Admission of Independent Gas Producers to the Major Gas Pipeline Network

July 3, 2014



ENP Newswire - 03 July 2014

Release date- 02072014 - The head of Gazprom Alexey Miller has announced that 'Power of Siberia pipeline and export supplies to China were planned only for Gazprom resource base'.

This position is completely different from the target of developing Siberia and Far East regions and openly contradicts the current legal system. The argument of Gazprom is that 'Gas pipeline network of Gazprom is considered as an instrument for realization of its shareholders and investors' interests in the sphere of expanding volumes and increasing sales efficiency', which obviously implies that supposedly similar position of Rosneft, which does not agree to worsen its shareholders' position in favor of TNK-BP Holding minority shareholders.

Gazprom, being an infrastructure monopoly, is obliged to guarantee independent producers access to the transport system. And in this case 40 bcm of gas, produced by Rosneft subsidiaries in East Siberia and at least as much produced by other manufacturers will become a part of regions' economy, will provide light, heat and energy for their development. We will protect the rights of our citizens by means of negotiations within the framework of corporate procedures, discussions with regulators and if necessary court proceedings.

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These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.


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Source: ENP Newswire


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