MOSCOW. March 7 (Interfax) - The board of directors at Gazprom will discuss the Russian gas giant's participation in the joint stock companies indicated by a government instruction of November 13, 2010 (No. 2016-r) at a meeting on March 15, the company said.

The board will also approve the purchase of stakes in these companies as interested-party transactions.

The government instruction calls for the sale by the Rosneftegaz holding company of shares in 72 gas distribution companies to Gazprom.

A source familiar with the situation told Interfax that the government representatives placed this item on the agenda as per a directive by Russia's Federal Property Agency (Rosimushchestvo), which instructs the representatives to approve the deal.

The price of the transaction is being determined based on a valuation by independent appraisers brought in by Gazprom and Rosneftegaz, taking into account the Energy Ministry's official forecast of Russian gas market development. The price cannot be lower than the price of these assets when they were contributed to Rosneftegaz's charter capital in 2008, the source stressed.

Altogether, the assets participating in the deal, based on the 2008 appraisal, are worth 26 billion rubles, the source said.

Value of assets to be sold to Gazprom as per the valuation on transfer to the charter capital of Rosneftegaz: