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Rosneft may revise parameters of deal with diamond miner Alrosa

February 04, 2014, 10:50 UTC+3 MOSCOW
Talks are still in progress, but it is not ruled out that Rosneft will backtrack on the deal
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© EPA/STRINGER

MOSCOW, February 04. /ITAR-TASS/. Despite its broadly announced expansion on the gas market, Russia’s top oil producer Rosneft is now scrutinizing the assets it buys and has questions regarding gas assets it was planning to buy from Alrosa diamond miner at $1.38 billion, the Kommersant daily has learned.

These assets could yearly yield up to three billion cubic meters of gas to the company, but after scrutinizing them, the company has demanded that Alrosa bring down the price. However, Alrosa which badly needs money to pay off debts is not ready for a discount, and the deal may fail as a result.

Rosneft may reconsider parameters of the deal for the purchase of oil and gas assets belonging to Alrosa — Geotransgaz, Urengoy Gas Company, Irelyakhneft and Alrosa-Gas, a source close to one of the sides has confirmed to the Kommersant.

Talks are still in progress, but it is not ruled out that Rosneft will backtrack on the deal. Alrosa sources said they had no information as to changes in the terms of the deal. Rosneft has declined to comment.

Reports that Rosneft will buy from Alrosa oil and gas assets in the Yamalo-Nenets Autonomous Area and in Yakutia came in May 2013, but the agreement was reached in September.

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