A PYMNTS Company

Russia: Competition watchdog investigates gas assets sale after complaints

 |  January 15, 2018

Reuters quoted the Russian Federal Anti-Monopoly Service (FAS) as saying that it is investigating the forthcoming sale of natural gas assets by Russian diamond producer Alrosa after a complaint from would-be buyer, energy giant Rosneft. Russia’s largest oil producer Rosneft, run by a close ally of President Mr Vladimir Putin, has said it was not satisfied with some terms of the sale and the reliability of the stated resources of the auctioned gas deposits.

The watchdog said there were signs of irregularities in the terms of the sale, scheduled for February 19. It said it would consider the complaint from Rosneft on January 15, looking into the size of the downpayment of 21 billion roubles (US$372.7 million) and the deadline for payments set for January 10.

Rosneft, whose chief executive is Igor Sechin, is one of the potential buyers of the assets but decided against participation in the sale, saying the auction terms were unacceptable. Sechin has been an ally of Putin since the president’s early political career in the mayor’s office of St Petersburg in the 1990s.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.