Rosneft agreed to acquire a number of oil and gas assets from ALROSA in Yamalo-Nenets Autonomous Region and in the Republic of Sakha (Yakutia), including 100-percent holdings in CJSC Geotransgaz, Urengoi Gas Company LLC, CJSC Irelyakhneft and the 99.9995 percent stake in OJSC ALROSA -Gas.

The agreement was signed by Rosneft President and Chairman of the Management Board Igor Sechin and President of JSC ALROSA Fedor Andreev in the presence of Prime Minister of the Russian Federation Dmitry Medvedev.

The transaction is valued at 1.38 bln USD. The acquisition of ALROSA assets will increase Rosneft recoverable gas reserves by more than 200 bcm and will give a boost to the Company's Yamal Gas Cluster development.

Tags: Rosneft