18 Jun 2022 10:09

Novatek could consider buying Fortum's Russia assets - CEO

ST. PETERSBURG. June 18 (Interfax) - Novatek is interested in buying the Russia-based assets of Finnish energy holding Fortum, the Russian gas producer's CEO, Leonid Mikhelson, said during the St. Petersburg International Economic Forum.

"Novatek could consider buying Fortum's Russia assets, our profit allows us to," Mikhelson said.

"We haven't disclosed reporting for the first quarter, and will not be doing so for the second. We have very good financial results at today's prices, so we could consider [the acquisition]," he said.

Finland's Fortum, which owns 98.23% of JSC Fortum , formerly TGK-10, and approximately 30% of TGK-1 , where the majority shareholder is Gazprom Energoholding, has said it is leaving the Russian market. Fortum also owns 73.4% of Uniper, which controls 83.73% of Unipro in Russia. The company is also involved in a number of renewable energy projects.