Gazprom, China Discuss Asset Swap, Russian Energy Minister Says

June 7 (Bloomberg) -- OAO Gazprom, the world’s largest gas exporter, is discussing an asset swap with China, Russian Energy Minister Alexander Novak told reporters today in Astana.

Gazprom is proposing China join in the development of some deposits in Russia in exchange for a participation in projects in China, Novak said without elaborating.

Other energy issues under discussion include terms of gas and oil-products shipments to the Asian country, Novak said. The two parties formed working groups to draft final proposals within three months, the Russian Minister said.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net