Languages

Gazprom consolidates control over TGK-1

Russian energy major Gazprom has requested the Russian federal Anti-Monopoly Service permission for an incorporation of the company Russian Energy Projects, which owns a major share of Northwest Russian electricity generator TGK-1.

Location

The Anti-Monopoly Service will need two months to handle the request, Oilru.com reports. The takeover of the company will enable Gazprom to boost its control over TGK-1, one of the biggest electricity generators in Northwest Russia. Gazprom from before owns 28,7 percent of the TGK-1. In addition it has had indirect control of the 17,65 percent of the shares owned by the Russian Energy Projects. The latter on behalf of Gazprom acquired the formerly state-owned stake in 2007. Finnish company Fortum owns 25,66 percent of the generating company. The TGK-1 runs electricity generating units in Leningrad Oblast, Sankt Petersburg, the Republic of Karelia and Murmansk Oblast. The company has a total generating capacity of 6 278,4 MW.