Support The Moscow Times!

Gazprom Seeks IES Asset

An affiliate of Gazprom may gain an 11 percent stake in Volga TGK owned by billionaire Viktor Vekselberg over a 16 billion ruble ($520 million) debt, Kommersant reported Friday, citing court documents and sources with knowledge of the company’s plans.

Gazprom wants the whole 48 percent in Volga TGK held by Integrated Energy Systems, Vekselberg’s power holding, to use in asset swaps with state-run Inter RAO, the report said.

Gazprom spokesman Sergei Kupriyanov, was not immediately available for comment. Spokeswoman for IES Nadezhda Rukina said Volga TGK, also known as TGK-7, is a strategic asset and declined to comment on the report.

(Bloomberg)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more