Gazprom may buy YUKOS assets

In the event assets of YUKOS are offered at an auction on conditions that would be acceptable to Gazprom, the holding company will participate in this auction, Vlada Rusakova, the chief of the Department of Strategic Development of Gazprom, told reporters. According to her, at present, Gazprom produces about 10m tons of oil and liquid hydrocarbons a year. The company forecasts production will increase to 20m-25m tons a year at its present fields alone.

Gazprom Executive Board Deputy Chairman Alexander Ananenkov declared earlier that Gazprom would transform its oil production department into a separate company by the end of 2004.