You're reading: Gazprom could pull out of Northgas

Gazprom is thinking of selling its stake in Northgas, which develops the neocomian reservoirs of the North Urengoi gas field, a gas industry source told Interfax.

Plans are being made to sell a 49 percent stake in Northgas to Inter RAO. Gazprom, which owns 51 percent of Northgas, has first right of refusal to buy that stake, but the source said the gas monopoly would likely not only waive that right but also sell its existing stake.

The Vedomosti newspaper said Gazprom was pulling out of Northgas possibly because it would not be able to coexist with Inter RAO, however all that might change if ministers and deputy prime ministers quit the board of directors of this and other government-related companies in line with instructions by Russian President Dmitry Medvedev