3 Jun 2013 12:00

Gazprom to consolidate small-scale power assets at Gazprom energo

MOSCOW. June 3 (Interfax) - Gazprom will consolidate its small-scale power generation assets on the balance sheet of LLC Gazprom energo, which currently manages the gas giant's grid facilities, Gazprom said in its annual report.

Last June, Gazprom's board of directors approved the concern's participation in entities divested from key 100% subsidiaries for ringfencing and further consolidating its power assets at Gazprom energo.

The plan is to create intermediate companies Gazprom energo Astrakhan, Gazprom energo Moskva, Gazprom energo Nadym, Gazprom energo Orenburg, Gazprom energo Urengoi, Gazprom energy Ukhta and Gazprom energo Yamburg. According to Interfax's SPARK database, these companies have not been established yet.