Rosneft May Give Itera Venture Natural Gas Deals, Interfax Says

Nov. 6 (Bloomberg) -- OAO Rosneft, Russia’s state-run oil producer, may hand control of its natural gas supply deals to a 51 percent owned venture with trader OOO Itera, Interfax said Nov. 2, citing a person close to the venture.

Itera will become the operator of a 25-year contract with OAO Inter RAO UES, which starts in 2016, Interfax said, citing the person. Itera’s board of directors will approve the decision at their next meeting, according to the report.

The press services of both Rosneft and Itera declined to comment.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net