Tuesday, December 30, 2014

​RUSSIA - Gazprom becomes 100% owner of abandoned South Stream gas pipeline

Gazprom has bought out the shares of South Stream Transport BV, a company that was in charge of the construction of the cancelled gas pipeline marine section.
Italy’s Eni, Wintershall of Germany, and France’s EDF have decided to withdraw from the South Stream project. They have sold their shares to Gazprom, which already owned 50 percent of South Stream Transport BV."Due to the fact that it’s difficult to predict receiving permission for South Stream, and calculate the economic consequences of delaying its construction for an indefinite period, the participants decided to close the project," said Wintershall’s spokesperson commenting on the decision to sell the stake.
INC News, 30/12/2014 - via RT

No comments:

VK