Gazprom, Rosneft Merge Next Two Months

Russian gas monopoly Gazprom CEO Alexei Miller announced Wednesday that the merger of Gazprom and state-run oil firm Rosneft was coming in force.

Miller said that the state will receive a controlling stake in Gazprom in exchange for 100 percent of Rosneft.

However, the merge will not include former Yukos unit Yuganskneftegaz, acquired by Rosneft last year. It will become a standalone state oil company, Miller informed. The current Rosneft?s chief Sergei Bogdanchikov is supposed to be the new head of Yuganskneftegaz.

The merger will allow foreigners to trade in Gazprom shares.

?Obtaining majority control over Gazprom is the beginning of the liberalization of the market in Gazprom shares,? Miller said.