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14

World N1 Gas Producer Gazprom To Pay $600bn for Market Capitalisation

Market capitalization of Russia's natural gas monopoly Gazprom should amount to no less than $600 billion

Market capitalization of Russia?s natural gas monopoly Gazprom should amount to no less than $600 billion, Valery Yazev, the chairman of State Duma energy committee and head of Russian Gas Union, said on Friday, Mosnews.com reported.

?Today capitalization of Gazprom amounts to $130 billion. Expert evaluations and my personal evaluations as the chairman of Russian Gas Union show that Gazprom capitalization should be no less than $600 billion,? Yazev said, quoted by RIA Novosti, speaking at a plenary meeting of State Duma, the lower house of the Russian parliament. He noted that if the deputies and the government approve the law that will liberalize Gazprom?s share market, the company?s capitalization will grow.

Yazev stressed that Gazprom?s capitalization has an influence ?on country?s rating, on indexes of our trading systems, it lowers the interest rates which are set for us when we take out loans of financial markets?.

The head of the Russian Gas Union spoke at the State Duma meeting in which the deputies approved the law on Gazprom?s liberalization in first reading. The amendments considered by the members of the parliament will life the ?ring fence? placed on foreign ownership of gas monopoly?s shares, allowing foreign investors to own more than 20 percent of Gazprom?s shares than they do now. Russian government has previously promised to lift the restriction by Jan. 1, 2006, but it is unclear at the moment whether the draft law will be able to go through all three readings and further approval by the government and the President in the month which remains before the New Year.
Norilsk Nickel will invest $700 mln into geological works at Natalka deposit in Magadan region


According to IA REGNUM, MMC Norilsk Nickel, the owner of Natalka deposit in Magadan region, will invest $700 mln into the deposit development: geological searching and pit construction. It is planned that 50 tons of gold will be mined there annually.