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Antimonopoly service receives complaint from Rosneft on auction for Alrosa’s gas assets

January 09, 9:50 UTC+3

On December 29, Rosneft's Press Secretary Mikhail Leontiev told TASS that the oil company filed a petition with FAS for permission to participate in the auction for Alrosa's gas assets

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MOSCOW, January 9. /TASS/. Russia’s Federal Antimonopoly Service (FAS) received a complaint from oil major Rosneft on the auction terms of Alrosa’s gas assets. At the same time, there has been no request to buy these assets from the company, the FAS press service told TASS.

"There was no request, but we received the complaint," FAS reported.

On December 29, Rosneft's Press Secretary Mikhail Leontiev told TASS that the oil company filed a petition with the FAS for permission to participate in the auction for Alrosa's gas assets, while sending a complaint to the agency disputing the terms of the auction.

Leontyev explained that Rosneft filed an application specifically so that no one accused the company of not submitting an application on time and trying to protest the conditions, because it missed the deadline for filing a petition.

At the same time, the FAS failed to confirm the filing of an application and a complaint from Rosneft.

Furthermore, Rosneft asked the Ministry of Finance and the Federal Property Management Agency to change the terms of the auction for Alrosa's gas assets, because, according to the oil company, they do not comply with international standards, and the lack of complete information on the companies being sold carries risks for the buyers. Rosneft also sent a request to the Federal Agency for Mineral Resources to confirm the current geological quality of Alrosa's gas assets for sale.

Alrosa noted that the company provided all financial and technical information to potential participants in the auction for gas assets and did not expect that the terms of the bidding will be changed in connection with the request of Rosneft.

The Russian mining company announced an auction to sell its gas assets, which is scheduled for February 19, 2018. A 100% stake in Geotransgaz and the Urengoy gas company are being put up for auction at a single lot with an initial price tag of 30 bln rubles ($526.32 mln).

Geotransgaz and the Urengoy gas company carry out subsurface activities for the extraction of natural gas and gas condensate in the territory of the Beregovoye and Ust-Yamsoveysky license areas in the Yamalo-Nenets Region.

Alrosa acquired these companies in 2005-2007 in order to diversify its business. Later, the Russian diamond-mining corporation sold 90% in both companies at the height of the 2009 crisis to VTB’s structures for $620 mln, and after three years rebought them for $1 bln.

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