MENATEP group will not participate in the Yuganskneftegaz auction

Thursday, July 9, 2020

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The MENATEP group will not participate in the Yuganskneftegaz auction, and none of the current bidders represent interests of the group, a MENATEP official told RIA Novosti. The auction on 76.79% of Yuganskneftegaz shares is scheduled for 16:00 (Moscow time) today. The Federal Anti-Trust Service accepted bid offers from Gazpromneft (100% Gazprom subsidiary), First Venture Company, Intercom and Baikalfinancegroup. MENATEP lawyers consider actions aimed at the arrest of Gazprom exports if the Russian gas monopoly wins at the auction. The statement was made by partners of the Greenberg Traurig law firm Sandford Sanders and John Pappalardo at a press conference in Moscow. "If Gazpromneft wins, we might follow the decision of the Houston court and go after Gazprom in the United States and other countries that recognize the court decision on Yukos," Mr. Sanders stated. Mr. Pappalardo added that in case if some "shadowy structure," which might somehow be related to Gazprom wins instead, the lawyers will be able to find out about the suspected connections without difficulties." "We will trace the Gazprom oil and gas supplies in other countries and arrest them," he emphasized. "We are ready to confront any organization that participates in the auction," Mr. Pappalardo said. Gazprom has not commented on MENATEP threats so far. MENATEP is the major Yukos shareholder.

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