Expert weighs in on future of Lukoil assets abroad if they are sold to Carlyle
Alexey Belogoryev noted that Carlyle is not new to the oil and gas business, but the company's main goal in acquiring such assets is to subsequently sell them and generate a profit
MOSCOW, January 29. /TASS/. Global investment firm Carlyle is likely to resell foreign assets of Lukoil in case it buys them from the Russian oil major, Alexey Belogoryev, research director at the Institute of Energy and Finance, told TASS.
"Several years, even five years or more, could pass from the time the assets are purchased to their sale. This is possible. They have oil, gas, and oil refining assets in their portfolio, but they are gradually selling them," he said.
Belogoryev noted that Carlyle is not new to the oil and gas business, but the company's main goal in acquiring such assets is to subsequently sell them and generate a profit. According to the expert, the American investment fund is primarily making a long-term bet on green energy. As noted by Dmitry Kasatkin, partner at Kasatkin Consulting, the Russian company will likely retain an option to return the assets as part of the deal with Carlyle.
Earlier, Lukoil announced that it had reached an agreement with the American company Carlyle to sell Lukoil International GmbH, which owns its foreign assets. The deal does not include projects in Kazakhstan and is subject to a number of conditions, including approval from US authorities. The company stressed that the agreement is not exclusive. Lukoil is continuing negotiations with other potential buyers.
Carlyle is a global investment company that manages assets worth $474 billion and employs more than 2,400 people in 27 offices on four continents.