RusEnergy

Russian oil & gas industry news...

 Gasprom   RusEnergy   World   Pipeliners  Zee Beam 








Tuesday, November 07, 2006

NOVATEK steps up on rumors

Novatek [RTS ticker: NVTK], Russia's largest private natural gas producerRBC, 03.11.2006, Moscow 09:58:11.Over the past month, shares of Russia's largest independent gas producer, NOVATEK, have climbed up by 13 percent. According to market participants, it has been rumored that Gazprom insiders have been buying NOVATEK's shares, and analysts admit that the gas concern may wish to raise its stake in the gas company to 50 percent. Furthermore, on November 2 Italian mass media said that Gazprom may swap its stake in NOVATEK for a number of Eni's energy and manufacturing facilities in Europe and Africa. If this is true, it may be that NOVATEK's share prices are being stepped up in Gazprom's interests, analysts say. NOVATEK is traded on the RTS and the London Stock Exchange (LSE). Three major increases in its shares have been witnessed, for the first time when Gazprom purchased a 19.9-percent stake, then when gas prices were hiked, and now stocks are climbing for a third time.

Contact me:  

This page is powered by Blogger. Isn't yours?