OREANDA-NEWS. January 16, 2007. Russia's Prime Minister Viktor Zubkov has instructed the Federal Agency for the Management of Federal Property to contribute the state-owned 92.249-percent stake in Kamchatgazprom to the share capital of Rosneftegaz as a payment for additional shares issued by Rosneftegaz in order to enlarge its share capital, the government's press office said. Simultaneously, the 92.249-percent stake will be included in the list of governmental organizations to be privatized in the second quarter of 2008.

President Vladimir Putin signed a decree about the transition of state stake in Kamchatgazprom to Rosneftegaz in November 2007.

Kamchatgazprom is a regional gas producer operating in the Kamchatka region. This company is being excluded from the list of strategic enterprises to speed up the process of gas pipeline construction in Kamchatka. Building of this pipe was started in 2000 by the Czech company PlinostaV, but in 2002 the works were suspended due to the financing problems.