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Gazprom bid for Centrica may be blocked

20 April 2006 – The UK government is considering amending the law on the merger of companies in order to block the possible acquisition by Gazprom of Britain’s major gas distribution company Centrica.

The government is concerned over the security of gas supplies to the British market and changes to the law is one of the ways to block any deal threatening the country’s national security.

Russian state-owned gas exporter Gazprom is interested in buying British assets to gain access to the retail gas market. Alexander Medvedev, the deputy CEO of Gazprom, said that the company intended to raise its share of the British gas market to 20 per cent by 2015.