Qatar is in talks with the German government over possibly buying Russian energy group Rosneft's (ROSN.MM), opens new tab stake in Germany's PCK Schwedt refinery, which Berlin placed under trusteeship following Russia's invasion of Ukraine, Business Insider news website reported on Wednesday.
Berlin has put Rosneft's German assets under a trusteeship in 2022, still conceding some control to the Russian group over a sale of the assets. A Rosneft lawsuit to challenge Berlin's grasp over the assets failed in court last year. The current trusteeship term is set to expire on Sept. 10.
The German economy ministry told Reuters it would "make a timely decision" on further steps by then.
Relations between Russia and the West collapsed after the full scale invasion of Ukraine in February 2022 and Germany has taken steps to shore up its energy security after concluding it had previously relied too heavily on Moscow.
Rosneft has a 54.17% stake in PCK Schwedt, which has traditionally supplied 90% of the fuel used in Germany's capital, Berlin.
In March, the German government said Rosneft started the sale of its German assets and wants to conclude the process by September.
Russian media has put the valuation of Rosneft's assets in Germany at around $7 billion.
The refinery is also co-owned by Shell (SHEL.L), opens new tab and Eni (ENI.MI), opens new tab. In December, Shell announced the sale of its 37.5% stake in the refinery to Britain's Prax Group.
Qatar Investment Authority and Qatar's international media office did not have an immediate comment.
Rosneft did not immediate reply to a request for comment.
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