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Business news, 04.11.2004 15:36

Gazpromneft incorporated in St. Petersburg

gazpromneft Gazpromneft was incorporated in St. Petersburg, November 2, Gazprom reps told AK&M.

Gazprom Board of Directors approved of the decision to set up Gazpromneft, 100% sub. of Gazprom, at its Fri sitting, on Oct. 29.

The company's stock capital equals 30 mln rbl.

Initially Gazpromneft was to be set up in August of 2004. Gazprom was intending to contribute over 2 bln tons of liquid hydrocarbon to its subsidiary. Then the government decided to transfer to Gazprom 100% stocks of Rosneft to pay for Gazprom stocks kept with the holding's subsidiaries.

Moreover, Gazprom CEO Alexei Miller has said recently Gazprom may also get Zarubezhneft to add to 100% Rosneft.

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