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Gazprom might merge TGK-1 with Mosenergo

The TGK-1

Russian gas giant Gazprom is considering to merge the TGK-1, the biggest electricity generating company in Northwest Russia, with Mosenergo.

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According to Interfax, the merger project might be on the table of the Gazprom board by the end of the year. In addition to the Mosenergo-TGK-1 merger, Gazprom also considers to merge the OGK-2 and OGK-6 companies.

According to Forbes.ru, Gazprom plans to include all its electricity-producing assets into one joint corporative management centre.

TGK-1 includes electricity producing units in Murmansk Oblast, the Republic of Karelia, Leningrad Oblast and Sankt Petersburg. Finnish company Fortum owns 25 percent of the TGK-1.