Gazprom will have to sell its assets in Europe

Gazprom restructures its foreign assets, Gazprom Germania said on Thursday. This happens "in connection with a change in economic and political conditions." What assets are we talking about, the report is not said. Gazprom Germania, the “daughter” of Gazprom Exports, owns almost all sales structures abroad, including the United States and Asia.

A source of Vedomosti said that optimization involves primarily the sale of assets at the request of the third EU Energy Pact, which prohibits manufacturers and gas suppliers to own gas transmission infrastructure.

So, in June 2014, Gazprom already sold 37.1% in Lithuanian Lietuvos Dujos and Amber Grid for $ 163 million. On June 19, the Estonian state -owned company Elering reported that for 20 million euros, Gazprom has been buying 37% from Gazprom at Vorguteenus Valdus, which owns the operator of the Estonian gas transmission system. Gazprom owns 34% in the Latvian Latvijas GAZE. Probably, by 2017, Gazprom will also be released from these assets, said Alexei Grivach, deputy director of the National Energy Security Fund.

At the end of 2014, Gazprom’s board of directors approved a 25% sale in the Finnish Gasum, which imports gas to Finland.

The EU Energy Strategies recently adopted by the European Commission implies a decrease in dependence on Russian gas, primarily the Baltic countries. Even the possibility of combining them for general procurement of imported raw materials is allowed. Now the Baltic states almost 100% depends on Gazprom. The EU plan involves the unification of the gas transmission systems of Lithuania, Latvia, Estonia and Finland for free gas renewal due to the construction of interconnectors. The EU will allocate money for this.

The EU would also like Gazprom not to be among the owners of the gas transportation systems of these countries. The Gazprom Germani report recalls that at the end of 2014 a deal between Gazprom and Wintershall on the exchange of assets also broke off, as a result of which Gazprom was supposed to receive complete control over large gas sales companies in Germany.