NOVATEK thought about buying Verbundnetz gas shares, couldn't agree on price
SABETTA (YAMAL-NENETS REGION). MOSCOW. July 20 (Interfax) NOVATEK thought about buying major German gas importer Verbundnetz gas (VNG), the Russian company's CEO, Leonid Mikhelson, told reporters.
Asked whether NOVATEK had really considered buying shares in VNG from EnBW, which has an option to buy 48% in VNG, Mikehlson said: "We considered this but did not find it to be economically feasible."
Asked whether Gazprom might have objected to such a deal, he said: "I don't think so. It think it would have been interesting for Gazprom if VNG had another Russian gas supplier."
German press reports said a year ago that NOVATEK was interested in VNG shares. NOVATEK has not commented until now, saying only that it sees a solution to the gas export issue in buying a stake in a European gas importer.
VNG, Germany's third biggest gas trader by sales volumes, has a complex shareholder structure which includes a commune of towns around Leipzig (25.79%), EWE (47.9%), Wintershall (15.79%) and Gazprom (10.52%). EWE has tried to gain control of VNG but has met with resistance from the other shareholders. Strategic partners Gazprom and Wintershall have a blocking stake in VNG between them.