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E.On offers Hungarian assets for Russian gas field

German utilities company E.ON AG has offered Russia's OAO Gazprom a part of its assets in Hungary in exchange for equity in the Yuzhno-Russkoye gas field, and an agreement on the transaction could be signed in April, Gazprom deputy CEO Alexander Medvedev said in Tuesday's issue of Russian business daily Kommersant.  

E.ON could draw up a contract with Gazprom for the exchange as soon as it completes the purchase of stakes in Hungarian oil and gas company Mol Rt's natural gas business, Kommersant said. The closing of the Mol-E.ON deals are scheduled to take place on March 31. In addition to stakes in Mol's gas business, E.ON is also offering Gazprom stakes in its Hungarian unit E.ON Hungária, Medvedev said at an energy conference in Moscow on Monday. In exchange for the stakes, E.ON aims to get 24.5% of exploitation rights for the Yuzhno-Russkoye gas field. Kommersant said beside assets in Hungary, E.ON is also expected to offer Gazprom stakes in its units in Bulgaria, the Czech Republic, Poland and Slovenia.