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Gazprom to Sell 50% of Italian Gas Unit to Investors: Report

Gazprom is ready to sell up to 50 percent of its forthcoming Italian gas distribution and marketing unit to local investors, the daily MF said without giving a source.

Gazprom aims to create the unit by the end of the year and the front runners to become shareholders are the local utilities AEM, ASM Brescia and Hera, it added.

However, the Russian energy group would prefer to divide the stake between several investors, while the utility companies are concerned about what assets they would have to transfer to the joint venture as they are reluctant to give Gazprom direct access to end-users, it added.

The three utilities have already signed supply contracts with Gazprom, which intends to sell up to 3 billion cubic meters of gas a year in Italy.