13:45 GMT17 February 2020
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    Russia’s Federal Antimonopoly Service allowed an acquisition by Austria’s OMV energy company of a 24.99-percent stake in a Gazprom joint venture.

    MOSCOW (Sputnik) — Russia’s Federal Antimonopoly Service (FAS) gave its consent on Friday to an acquisition by Austria’s OMV energy company of a 24.99-percent stake in a Gazprom joint venture, Severneftegazprom.

    "FAS has examined the request by OMV Exploration & Production GmbH… to acquire the right to set business operation terms for Severneftegazprom and Gazprom Yurgm Trading, as well as to join shareholders' agreements of Severneftegazprom and Gazprom Yurgm Trading and has decided to grant it," the agency said in a ruling published on its website.

    Severneftegazprom is an oil and gas producing and exporting company that owns a license to develop northwest Siberia's Yuzhno-Russkoye oil and gas deposit, estimated to hold 1 trillion cubic meters of gas.

    Gazprom has a 40-percent stake in the company, while Germany’s Wintershall Holding GmbH and Uniper own respectively 35 percent and 25 percent of shares. The Austrian firm announced in March its intention to purchase a 24.99-percent stake from Uniper.

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    Tags:
    Federal Anti-Monopoly Service (FAS), Gazprom, Austria, Russia
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