Russia’s Rosneft not to cancel gas deal with Alrosa

February 5, 2014

Russian oil major Rosneft may adjust the price of gas assets, which will be purchased from diamond mining giant Alrosa, but has no plans to cancel the agreement, Igor Sechin, CEO of Rosneft, told reporters on February 4, Prime has reported.

“In the frameworks of the agreement, we were granted an access to the information, and we have worked with it additionally. New data allow us to adjust the price tag, this work is underway. We are not refusing from the deal,” Sechin said.

Earlier Tuesday, business daily Vedomosti reported that Rosneft had asked Alrosa to reduce the U.S. $1.38 billion price for its oil and gas firms, including Geotransgaz and Urengoi Gas Company, quoting market sources. Rosneft believes that $1.38 billion is an excessive price; one of the wells is empty, and the company could cancel the deal, according to the daily.

Copyright: Prime, 2014