Gazprom to consolidate its assets in the Astrakhan and Orenburg regions

Gazprom dobycha Astrakhan and Gazprom Orenburg, earlier directly controlled by Gazprom, have came under the control of Gazprom processing. Such decision, according to the Kommersant, was adopted by the Board of Directors of the gas giant in early March. In the regions afraid of optimization of their investment programs, staff and social projects. According to experts, the transfer of Gazprom Orenburg and Gazprom dobycha Astrakhan under control of Gazprom processing was planned and associated with large-scale consolidation process of the gas giant’s refining assets within a single structural unit.
 
According to the Kommersant, in early March, the Gazprom’s Board of Directors decided to transfer 99% stakes of its subsidiaries’ shares - Gazprom dobycha Astrakhan and Gazprom Orenburg - in favor of its another subsidiary Gazprom processing.
 
Gazprom dobycha Astrakhan develops the largest in the South of Russia Astrakhan gas condensate field. The company ranked the third in the world in terms of the annual production of sulfur, having 10% of the world and 81% of the Russian market. Gazprom Orenburg develops the Orenburg field - the main active field in the southern Urals. Gazprom processing (Tyumen Region, Surgut) controls over Surgut gas condensate stabilization plant, Sosnogorsk gas processing plant and Urengoy plant for gas condensate treatment. Also, Gazprom processing owns 99.9% in Gazprom Salavat neftekhim. All three companies are among the five subsidiaries of Gazprom, which process natural gas, gas condensate and oil. According to the Gazprom’s report for the fourth quarter 2014, the company holds 100% in all three companies.