Gazprom plans to exchange assets with Shell by the end of 2016

​By the end of the year Gazprom might gain control over some of the assets which Shell purchased previously in 2016 after the amalgamation with BG, the deputy chairman of Gazprom, A. Medvedev, said.

Some assets of BG might be included in the deal on the exchange of assets between Gazprom and Shell. The former assets of BG (now the assets of Shell) are a possible variant in the exchange of assets with us. We have obtained everything they have and now we study. We are interested in the vertically integrated scheme with all level of cost forming, Medvedev said.

It absolutely clear that the deals will be completed by the end of the year, maybe earlier. In 2015 both companies signed a cooperation agreement which presupposes the development of strategic partnership in all segments of the gas sector.

The net profit of Shell fell in Q1 by 89% to $484 mln. The main reasons of the fall are the oil price fall and expenditure for the amalgamation with another energy company – BG Group. Shell also announced of investment cutting by 10% in 2016 – from $33 bln to $30 bln.

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