Seeking Alpha

Rosneft to buy Enel's SeverEnergia stake for $1.8B

  • Rosneft (RNFTF.PK) agrees to buy Enel's stake in Russian natural gas producer SeverEnergia for $1.8B, as the world's largest listed oil producer attempts to boost its gas output.
  • Rosneft will acquire a 19.6% stake in SeverEnergia by purchasing Enel's 40% stake in a joint venture with Eni (E).
  • Gazprom Neft, the oil arm of state gas firm OAO Gazprom (OGZPY.PK), holds 51% of SeverEnergia, which holds licenses on the Yamal peninsula in Russia's Arctic.
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