Gazprom and Lukoil join forces to acquire MOL stake
Monday, April 4, 2005, 00:00
Russian oil companies Gazprom and Lukoil may run hand in hand for MOL?s last state-owned 11,8% stake, Ebroker.hu said citing Russian dailies. As reported before, the government would sell the stake in H2 this year. The article pointed out that the Hungarian oil company depends on the two Russian giants for supplies because Lukoil is MOL?s main supplier. MOL signed a contract for 5 years with Luikoil not long ago after the largest production unit of Russian Yukos was shut down. Last week, Gazprom signed a strategic contract with Lukoil, which operates 5% of Hungarian filling stations. Gazprom is openly showing interest in MOL, and the possibility of an acquisition was discussed last week by Gazprom CEO Alexei Miller and Hungarian Prime Minister Ferenc Gyurcsány.