Russian oil company Sibneft may replace Rosneft in a merger with Gazprom, Russian daily Vedomosti reported.
The Russian government is considering a plan to abandon the troubled Gazprom-Rosneft merger and instead increase its stake in Gazprom by buying privately owned Sibneft and joining it with the gas giant, Vedomosti cited government sources.
The news comes on reports that the government might be ready to jettison state-owned Rosneft from its equation to gain control of Gazprom, instead paying cash for shares in the gas company.
The government has made boosting its 38 percent stake in Gazprom to 51 percent a condition for lifting the so-called ring fence, which restricts foreigners from buying Gazprom's local shares.
The plan also leaves out Rosneft and forwards the option of the state buying out Sibneft, whose majority owner is billionaire Roman Abramovich, and then merging it with Gazprom to gain control of the new company.
Both Gazprom and Sibneft said Tuesday declined to comment.
