13.11.08 - 09:33 -
Prime Minister José Luis Rodríguez Zapatero (R) and Russian Deputy Prime Minister Alexander Zhukov met at the Moncloa Palace in Madrid on Wednesday following Zhukov's announcement that Russia's gas export monopoly Gazprom is considering taking a 20% stake in Spanish oil major Repsol. / REUTERS / Juan Medina
Russia's deputy prime minister said on Wednesday that Russian state-controlled energy giant Gazprom is considering taking a position in Spanish oil company Repsol YPF via the purchase of the 20 percent stake held by construction group Sacyr-Vallehermoso.
Alexander Zhukov made the comment to reporters after meeting with Spanish Industry Minister Miguel Sebastián and prior to their taking part in a meeting of a Russia-Spain inter-government commission.
Sebastián said he learned of the news at the press conference and that said the potential deal is a private operation. The minister added that Repsol is a "very coveted and highly valued" company and therefore it is unsurprising that it would spark "a great deal of interest" abroad.
"We didn't talk about any shareholding operation during the meeting," the minister said, adding that he did not have "even the slightest idea" about any eventual deal.
Zhukov made the remarks when asked about the possibility of joint venture natural gas projects involving Russian and Spanish companies. The deputy premier said nothing had been finalized yet but that talks have been held among Gazprom, Repsol and Spanish electric utility Iberdrola to supply liquid gas to third countries.
He also expressed Gazprom's interest in purchasing the 20 percent stake that Spainish builder Sacyr owns in Repsol and which has a current market value of approximately $4.53 billion.
Sacyr, which has been hard hit by Spain's severe housing downturn, announced two months ago that it was mulling the possibility of selling some of its assets, including its 20 percent stake in Repsol.
Since then, rumors have abounded about possible suitors, with Anglo-Dutch Shell and France's Total among the more prominent names in addition to Gazprom.
