Identifier
Created
Classification
Origin
06VIENNA42
2006-01-05 17:48:00
UNCLASSIFIED
Embassy Vienna
Cable title:
AUSTRIAN RAIFFEISEN IN THE MIDDLE OF RUSSIA-
how-toVZCZCXRO3601 OO RUEHDA RUEHDF RUEHFL RUEHKW RUEHLA RUEHLN RUEHLZ RUEHROV RUEHSR RUEHVK RUEHYG DE RUEHVI #0042 0051748 ZNR UUUUU ZZH O 051748Z JAN 06 FM AMEMBASSY VIENNA TO RUEHC/SECSTATE WASHDC IMMEDIATE 1996 INFO RHEBAAA/DEPT OF ENERGY WASHDC PRIORITY RUCPDC/USDOC WASHDC PRIORITY RUEHZL/EUROPEAN POLITICAL COLLECTIVE PRIORITY RUEAIIA/CIA WASHDC PRIORITY
UNCLAS VIENNA 000042
SIPDIS
USDOC PASS TO OITA
USDOC FOR 4212/MAC/EUR/OWE
SIPDIS
STATE FOR EUR/RUS, EUR/UMB, EUR/ERA, EUR/AGS, EB/ESC
E.O. 12958: N/A
TAGS: ECON EFIN ENRG EPET PREL PGOV AU
SUBJECT: AUSTRIAN RAIFFEISEN IN THE MIDDLE OF RUSSIA-
UKRAINE GAS DEAL
REF: VIENNA 0041
UNCLAS VIENNA 000042
SIPDIS
USDOC PASS TO OITA
USDOC FOR 4212/MAC/EUR/OWE
SIPDIS
STATE FOR EUR/RUS, EUR/UMB, EUR/ERA, EUR/AGS, EB/ESC
E.O. 12958: N/A
TAGS: ECON EFIN ENRG EPET PREL PGOV AU
SUBJECT: AUSTRIAN RAIFFEISEN IN THE MIDDLE OF RUSSIA-
UKRAINE GAS DEAL
REF: VIENNA 0041
1. According to Austrian and international media
reports, the Austrian Raiffeisen Investment Group
(RIAG),a subsidiary of Raiffeisen Zentralbank (RZB),
played a pivotal role in the Russian-Ukrainian gas
deal. At the core of the deal (reportedly) is an
arrangement for the Ukrainian Naftogaz company to
purchase gas from the trading company "Rosukrenergo."
Created in 2004, this firm is said to be a joint
venture between Gazprom and RIAG to facilitate the
transfer of gas to Ukraine. For tax reasons, the
company is registered in Switzerland. Rosukrenergo
reportedly will buy gas for $230 per 1000 cubic meters
from Russia and for approximately $50 from Turkmenistan
and other Central Asian countries. It will then be in
a position to sell gas for $95 to Ukraine.
2. RZB spokesman Andreas Ecker confirmed that Ukrainian
contacts had asked the bank to mediate a solution.
Raiffeisen, along with a handful of other western banks,
has a strong presence in Russia and Ukraine (as well as
the rest of Central and Eastern Europe). Wolfgang
Putschek, a member of RIAG's managing board, said in a
press release that the "neutral image of RIAG in Eastern
Europe" has been a main reason for the acceptance of
Rosukrenergo's offer. Putschek specifically denied
media speculation that RIAG is only a placeholder within
the joint venture for the Ukrainian government or
another investor. According to Putschek, Rosukrenergo
will be floated on the stock exchange or sold to a
"strategic investor" by June 2007.
3. Comment: The media-reported rumors that RIAG is
acting as a front for others are of undetermined
veracity. Embassy will continue to report on the gas
deal as further details emerge.
KILNER
SIPDIS
USDOC PASS TO OITA
USDOC FOR 4212/MAC/EUR/OWE
SIPDIS
STATE FOR EUR/RUS, EUR/UMB, EUR/ERA, EUR/AGS, EB/ESC
E.O. 12958: N/A
TAGS: ECON EFIN ENRG EPET PREL PGOV AU
SUBJECT: AUSTRIAN RAIFFEISEN IN THE MIDDLE OF RUSSIA-
UKRAINE GAS DEAL
REF: VIENNA 0041
1. According to Austrian and international media
reports, the Austrian Raiffeisen Investment Group
(RIAG),a subsidiary of Raiffeisen Zentralbank (RZB),
played a pivotal role in the Russian-Ukrainian gas
deal. At the core of the deal (reportedly) is an
arrangement for the Ukrainian Naftogaz company to
purchase gas from the trading company "Rosukrenergo."
Created in 2004, this firm is said to be a joint
venture between Gazprom and RIAG to facilitate the
transfer of gas to Ukraine. For tax reasons, the
company is registered in Switzerland. Rosukrenergo
reportedly will buy gas for $230 per 1000 cubic meters
from Russia and for approximately $50 from Turkmenistan
and other Central Asian countries. It will then be in
a position to sell gas for $95 to Ukraine.
2. RZB spokesman Andreas Ecker confirmed that Ukrainian
contacts had asked the bank to mediate a solution.
Raiffeisen, along with a handful of other western banks,
has a strong presence in Russia and Ukraine (as well as
the rest of Central and Eastern Europe). Wolfgang
Putschek, a member of RIAG's managing board, said in a
press release that the "neutral image of RIAG in Eastern
Europe" has been a main reason for the acceptance of
Rosukrenergo's offer. Putschek specifically denied
media speculation that RIAG is only a placeholder within
the joint venture for the Ukrainian government or
another investor. According to Putschek, Rosukrenergo
will be floated on the stock exchange or sold to a
"strategic investor" by June 2007.
3. Comment: The media-reported rumors that RIAG is
acting as a front for others are of undetermined
veracity. Embassy will continue to report on the gas
deal as further details emerge.
KILNER