Gazprom, Naftogaz to Start New Round of Talks on Joint Venture

MOSCOW (Dow Jones Newswires), Aug. 20, 2010

Russia's Gazprom and Ukraine's Naftogaz will begin a new round of talks on creating a joint venture, the Russian gas firm said Friday.

At a meeting in Moscow, Gazprom Chief Executive Alexei Miller and Ukraine's Energy Minister Yuri Boiko discussed "development of the strategic partnership between the two companies and opening a new round of talks on creating a joint venture," Gazprom said in a statement.

In April, Russian Prime Minister Vladimir Putin proposed the idea of merging Gazprom and Naftogaz, angering critics in Ukraine who said the move would amount to a takeover of Naftogaz by the much larger Gazprom.

The two companies have quarreled in recent years over gas transit to Europe. Gazprom is a major gas supplier to Europe, of which most is shipped through Ukraine.

Moscow and Kiev have moved forward with a flurry of deals since Ukraine's new, Kremlin-friendly President Viktor Yanukovich was inaugurated in February, replacing the staunchly pro-Western Viktor Yushchenko.

Copyright (c) 2010 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours