Gazpromexport, which is 100%-owned by Gazprom and handles all its gas export contracts, is expected to take over Gazpromneft's oil export sales during the second quarter of this year.

Gazpromneft, the fifth-largest oil producer in Russia and better known under its former name of Sibneft, was able to retain relative commercial independence from Gazprom from September 2005 to November 2006. During this period, it was led by former Gazprom deputy executive chairman Aleksandr Ryazanov.

Sibneft,