Gazprom selling North Sea assets, range of public offering from 159 mln euros to 344 mln euros

MOSCOW. March 1 (Interfax) - Gazprom International Limited has launched a competitive bidding process for the sale of its assets in the North Sea, and the corresponding tender was posted on the electronic trading platform of Gazprombank , Gazprom International said.

The company plans to sell its 50% stake in Wintershall Noordzee BV, a joint venture with Wintershall Dea, and a 100% stake in Gazprom International UK Limited, a subsidiary of the consortium involved in the development of the Sillimanite gas field. The transaction also includes the sale of 100% of the shares in Gazprom UK Limited, which owns Gazprom UK Resources S.A., with an interest in a consortium involved in developing the Wingate gas field. Wintershall Noordzee also holds interests in the consortium involved in developing the Sillimanite and Wingate gas fields.

Open bidding is taking place in the form of a public offer with a starting price of 344 million euros and a cut-off price of 159 million euros.

Bids are being accepted until May 31, the bidding results are scheduled for June 3, and the announcement is scheduled for June 6.

Gazprom became a shareholder in Wintershall Noordzee in 2015 as part of an asset swap with Wintershall. Gas from the fields enters the Dutch pipeline system. The natural gas produced is supplied to the EU market under spot contracts.