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City news, 18.11.2005 12:58

Sibneft headquarters to move to St. Petersburg

sibneft Russian oil major Sibneft will re-register its headquarters in St. Petersburg in the wake of its sale to Gazprom, the country's natural gas monopoly's chief executive said Tuesday.

"St. Petersburg is attractive because of its oil terminals, the Baltic pipeline network and market opportunities," Alexei Miller said after a meeting with St. Petersburg Governor Valentina Matviyenko. "Therefore, Sibneft will move to St. Petersburg and we will decide soon to what extent and on which terms."

Sibneft, which is currently registered in the Siberian city of Omsk, was formerly controlled by Chelsea FC owner and tycoon Roman Abramovich, but his investment vehicle, Millhouse Capital, sold a 76.7% stake to Gazprom for $13.1 billion in September.

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