March 20, 2008 By Citizen M

Energy Blast, March 20, 2008

Russia’s 49% shareholding in the Mongolian joint venture Erdenet, which produces 25 million tons of ore every year, may be “transferred” to Gazprombank. Shareholders of Sibur Holding, Gazprom’s petrochemical unit, approved a plan to raise $10.1 billion in bonds and loans. Evraz Group, part-owned by Roman Abramovich, has abandoned plans to merge two Siberian coal miners in a deal that would have created the world’s No. 3 producer of coking coal. Egypt and Russia have drafted a nuclear energy deal, which could be signed next week in Moscow, to allow Russia to take part in the tender to build nuclear reactors in Egypt.