30 Sep 2009 12:16

Lukoil official doesn

MOSCOW. Sept 30 (Interfax) - Lukoil may acquire refining assets in Europe from French Total, a Lukoil official told journalists.

"If the projects are at the same level of financial effectiveness, I don't rule it out," the head of Lukoil's investment analysis and investor relations department, Andrei Gaidamak, said in response to a question.

A number of media outlets previously reported that Total might sell a host of its refining assets in Europe. Prime Minister Vladimir Putin has expressed the hope that Russian companies will make use of Total's offer. "It's a good offer. I hope that some of our companies will make use of it. An asset swap, which creates the conditions for cooperation, is a move in the right direction," Putin said.

On September 1 Lukoil closed the purchase of a 45% stake in Total Raffinaderij Nederland (TRN) for $600 million. TRN is located near Vlissingen Oost in southwestern Holland in the Amsterdam-Rotterdam-Antwerp oil and product trading hub. The refinery has access to transportation infrastructure, including the Maasvlakte Olie terminal, in which TRN has a 22% interest. The refinery has capacity to process 158,000 barrels of crude oil per day.