Rus News Journal

" Rosneftegaz " the Presidential commission on TEKu wants yesterday more and more


was engaged basically in power. As well as assumed " " on July, 6th, participation " became a key question; Rosneftegaza " in privatisation of the power companies. And the scheme of their consolidation has again changed. Now " Rosneftegaz " wants to receive control already over more than 70 % of actions " RusGidro " and more than 25 % of actions " Inter the Russian Open Society " and the basic volume of means within the limits of transactions, nearby 110 mlrd rbl., will be received by last company. However it is already obvious that the transaction will uneasy spend through the government waiting for money from " Rosneftegaza " in the budget.
the electric power industry became the basic subject of the first session of the presidential commission on TEKu. The commissions should be considered at once some key questions of branch, including dokapitalizatsiju " RusGidro " at the expense of means " Rosneftegaza " And possible merge of the Federal network company (FSK) and Holding MRSK. According to sources " " familiar with a session course, the basic lecturer unexpectedly became eks - Minister of Energy Sergey Shmatko (is a part of the commission). But, one of interlocutors " specifies; " eks - the minister was not the author of key reports on power, them prepared in " Rosneft " which heads were vitse - prime minister Igor Sechin, with the assistance of interested state companies, including " RusGidro " and " Inter the Russian Open Society ".

Therefore participation " became one of the cores that of commission session; Rosneftegaza " in " privatisation projects ". " " already told about two variants of the first similar transaction on occurrence " Rosneftegaza " in the capital of one of the largest Russian power companies, state " RusGidro ".

However as it was possible to find out " " yesterday the third was discussed already, much more scale, but less favourable for " RusGidro " the scheme.

the previous schemes assumed injection from " Rosneftegaza " in " RusGidro " nearby 85 mlrd rbl. for liquidation of deficiency of the investment program. Also " RusGidro " received under various schemes from " Inter the Russian Open Society " 40 % of actions " Irkutskenergo ". Most " Inter the Russian Open Society " as a result got or illiquid actions of affiliated company " Rosneftegaza " or indemnification at a rate of 31 mlrd rbl. Under the new scheme almost all money " Rosneftegaza " should appear eventually in " Inter the Russian Open Society " and " RusGidro " will receive only actions " Irkutskenergo ".

the following Now is offered, the interlocutor " speaks; " familiar with a course of discussion of the scheme. " Rosneftegaz " Or its affiliated SPV - the company redeems at " RusGidro " 5,28 % of actions " Inter the Russian Open Society " for 14,4 mlrd rbl. and approximately 11,5 % of additional actions most " RusGidro " for 41,1 mlrd the rbl. can be closed This part of the transaction in the first - the second quarter 2013. Then " RusGidro " almost all these means (nearby 50 mlrd rbl.) Will pay " Inter the Russian Open Society " for 40 % of actions " Irkutskenergo ". In such variant " Rosneftegaz " will receive in the capital " RusGidro " it is much less than block package, but as assures a source " " then the state can transfer to its in control and a power company controlling interest (now 60,4 % of actions). But thus at " RusGidro " almost there will be no available assets for a covering of deficiency of the investment program.

but " Inter the Russian Open Society " will receive much more. Yesterday Vladimir Putin has lifted a subject of power cooperation with Kirghizia, having mentioned projects of Kambaratinsky HYDROELECTRIC POWER STATION - 1, Verhne - the Naryn cascade of HYDROELECTRIC POWER STATION and a certain coal thermal power station. Bishkek invited earlier Moscow to participation in all these projects, except thermal power station, but, according to sources " " concrete arrangements while are not present. Recently it was supposed that the Russian side in the Kirghiz projects will represent " RusGidro " (By data " " the head of the company Evgenie Dod in July already visited Kirghizia), but now, one of interlocutors " assures; " power cooperation with Bishkek can assign " Inter the Russian Open Society ".

Besides HYDROELECTRIC POWER STATION and thermal power station " the Penalty - Keche " capacity 400 MVt in Kirghizia two can be constructed more transboundary LEP 500 kv in Alma - Atu and in Sintszjan - the Uigur independent area of China, tells a source " ". On it, as he said, money " also will be necessary; Rosneftegaza " approximately 60 mlrd the rbl. is offered for bringing These means in " Inter the Russian Open Society " in exchange for actions dopemissii (about 16 %) and also to pass " Rosneftegazu " in management approximately 9 % of quasiexchequer actions " Inter the Russian Open Society " being on balance of its affiliated company. As a result, the interlocutor " explains; " " Rosneftegaz " will receive a block package " Inter the Russian Open Society " Becoming the key shareholder. Now the largest package of holding about 20 % of actions owns FSK.

But the scheme can become a victim of disagreements between Igor Sechinym and Arcady Dvorkovichem. Last has declared yesterday that a government position " consists that is not less, than during the current year 90 % of dividends " Rosneftegaza " should arrive in the budget of the Russian Federation ". It means that at the company it will not be simple money for consolidation " RusGidro " and " Inter the Russian Open Society ". Besides, vitse - the prime minister has mentioned a position of the Ministry of Finance which wants " to look at use of a part of this sum (saved up on balance " Rosneftegaza " means, as a whole it can be to 135 mlrd rbl. " " ) for inclusion in the budget ".

As a result of concrete decisions on the yesterday`s commission, marks one of sources " " It was accepted not. Arcady Dvorkovich has underlined that it is entrusted to the commission only " to work " ways dokapitalizatsii as " RusGidro " and " Inter the Russian Open Society ". Thus, by words vitse - a premiere, besides " Rosneftegaza " there are also other investors. As those he has mentioned Foreign trade and investment bank and its affiliated structures. But Igor Sechin has minded that in that case " there is a question on necessity dokapitalizatsii most veba ". In the beginning of year veb it was considered as the basic source of means for zatykanija holes in the investment program " RusGidro " but this scheme has been decided to refuse. In most vebe yesterday have declared that the bank has no the concrete information on this question.

concerning FSK and HMRSK Igor Sechin has declared that various schemes of association were considered, but they should be still worked on the instructions of Vladimir Putin. The primary goal " Rosneftegaza " Becomes " maintenance of dropping out incomes in connection with technical joining " for the sum to 30 mlrd rbl. Arcady Dvorkovich, to the contrary, has confidently declared that the commission has countenanced integration FSK and HMRSK, but has not solved a question of participation in it " Rosneftegaza ".