Gazprom, SUEK Cancels Energy Assets Merge

Gazprom and SUEK (Siberian Coal Energy Company) have abandoned the idea of merging their energy assets, a joint press release states. The shareholders of both companies have made a decision to stop talks on the matter. Each company will now concentrate on the realization of its own strategy in the electricity industry. The main reason for canceling the deal was uncertainty regarding the dynamics on the electricity and energy markets. However, the work that was done in preparation for the potential deal, testifies to the fact that the development of coal power generation in Russia has great perspectives.

Gazprom and SUEK have signed an agreement on long-term strategic cooperation in the electricity industry.