RIA Novosti reported that Gazprom may repurchase a 20% stake in Gazprom Neft and former gas assets of the liquidated Yukos oil company from Italian Eni and Enel in a deal worth over USD 5.5 billion.

Vedomosti reported, referring to sources close to Eni and the Gazprom board of directors that both purchases have been preliminarily approved by the gas giant's board of directors and are expected to be announced on April 6th to 7th. The paper said state controlled Sberbank, Gazprombank and Russian Agricultural Bank are prepared to lend money to the gas monopoly.

The paper said Gazprom will have to pay over USD 4 billion to Eni for the 20% stake in Gazprom Neft and about USD 1.5 billion to Eni and Enel for 51% of shares of SeverEnergia. SeverEnergia, the holding company for Arcticgaz and Urengoil has reserves of almost 1 trillion cubic meters of natural gas.

(Sourced from RIA Novosti)