Russia's OAO Gazprom may be entering an epic expansion binge, but, for now, analysts are not worrying about its impact on the $1.25 billion in secured export notes maturing in 2020.

The company has announced that it will bid for Yuganskneftegas, a production unit of Russian oil giant OAO NK Yukos, which has been reeling under the weight of overwhelming tax debt. Gazprom is angling for other assets as well, in an aggressively acquisitive drive that could ring up $50 billion in total, according to reports.

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