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How to avoid tax creep in retirement

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Russia's Novatek says to acquire gas asset from Eurochem

Reuters - UK Focus

LONDON, Oct (Shenzhen: 000069.SZ - news) 17 (Reuters) - Russia's biggest non-state gas producer Novatek will acquire a gas producing asset from Russia-focused fertiliser producer Eurochem as part of a new strategy, Novatek's head Leonid Mikhelson told reporters on Tuesday.

He said that the Russian anti-monopoly service has approved the acquisition of Severneft-Urengoy, which produces between 700 and 800 million cubic metres of gas per year.

Novatek will present its new development strategy in December.

"Our new strategy envisages a faster commisioning of new assets as well as acquisitions," Mikhelson told a briefing in London. (Reporting by Dmitry Zhdannikov; writing by Vladimir Soldatkin; Editing by Adrian Croft)