Putin proposes Gazprom-Naftogaz merger

Russian Prime Minister Vladimir Putin said at a Ukraine-Russia intergovernmental meeting on Friday that he favored a merger of state-owned oil & gas companies Gazprom (Russia) and Naftogaz of Ukraine. Gazprom CEO Alexei Miller said he was ready to start negotiations following the early May holidays. Ukraine’s Cabinet of Ministers released a statement later in the day declaring their readiness to consider a merger. Russia’s Agency of Gas Information said on Friday that Ukraine’s share in a joint gas venture could be about 6%, Interfax reported.