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International law firm Clifford Chance has advised Gazprom on the recent swap transaction with E.ON whereby Gazprom is to receive E.ON Ruhrgas' 49% stake in the Russian company ZAO Gerosgaz which in turn holds approximately 3% of Gazprom's shares. In return, E.ON Ruhrgas is to receive a stake of 25% minus one share in the Russian company OAO Severneftegazprom: the company which operates the Siberian gas field Yuzhno Russkoye. The signing of this agreement follows four years of negotiations and has strategic political importance for both Russia and Germany. The Clifford Chance team was led by partner David Griston and counsel Maria Oleinik, who have each advised Gazprom for a number of years.
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