The President of Gazprom Neft Considers the Transaction on Purchase of Sibneft Profitable.

The President of JSC Gazprom Neft Alexander Ryazanov considers the transaction on purchase of a controlling stake of JSC Sibneft to be profitable for Gazprom.

"We carried out independent estimations, and I can say that the cost of Sibneft has not been overestimated”, A.Ryazanov said during the meeting of shareholders of JSC Gazprom. “Moreover, capitalization of this oil company constantly grows."

"If we had decided to sell it (the company), we would receive 4-5 billion more than when we bought it", considers A.Ryazanov.

Let’s note that Gazprom bought 72.663 % of shares of JSC Sibneft for $13.091 billion in the end of October.