Gazprom plans to swap more than half of its holding in gas company Novatek for 51 percent of a small natural gas firm, Kommersant reported Wednesday.
The 51 percent stake is currently owned by Gazprombank.
"We decided that we will give away around half of our stake in Novatek [to Gazprombank] for 51 percent of Sibneftegaz," Kommersant quoted a Gazprom source as saying.
He added that the deal could be clinched in June.
The move will make oil trading heavyweight Gennady Timchenko Novatek's biggest shareholder with 18.2 percent of the shares. Gazprom currently holds 19.4 percent of the company.
In February, Kommersant said Gazprom might get control of a new gas company to be created out of three already existing firms.
The new company's annual gas production would match that of Novatek, Russia's largest nonstate gas producer, and would be established on the basis of Gazprombank-owned Sibneftegaz as well as companies Purgaz and Nortgaz.
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