Russian state-owned energy giant Rosneft has struck a $1.35billion deal to buy the gas production assets of diamond mining firm Alrosa.
The deal will see Rosneft take the company’s 100% stakes in the CJSC Geotransgaz, Urengoi and Irelyakhneft companies, along with a 99.9995% stake in Alrosa’s gas arm.
Geotransgaz and Urengoi hold gas licences for fields in the autonomous region of Yamalo-Nents thought to contain around 170billion cubic metres of gas, while Alrosa holds a licence for the 40bcm Srednebotuobinsk field.
“Gas business development is one of Rosneft strategic priorities, and acquisition of Alrose oil and gas assets is perfectly in line with this strategy,” said Rosneft chairman Igor Sechin.
“It will also strengthen Rosneft positions in the Russian Far East – a region of great significance to the Company.”