GDF Suez acquires share in Nabucco-West from OMV

GDF Suez has acquired a 9% share in Nabucco Gas Pipeline International GMBH—the partnership company developing the Nabucco-West pipeline—from Austria’s OMV AG. The transaction is expected to close in this year’s second half, subject to certain conditions. OMV did not offer any specifics of these conditions or disclose the deal’s purchase price.

Following closing, partners in Nabucco will be GDF Suez, OMV, Bulgaria’s BEH, Turkey’s Botas, Hungary’s FGSZ, and Romania’s Transgaz.

The 800-mile pipeline launched a nonbinding open season earlier this month for shipment of gas from Shah Deniz II to Europe (OGJ Online, May 10, 2013). BP expects the Shah Deniz partners to decide next month between Nabucco and the Trans Adriatic Pipeline as the project’s European transport option.

Contact Christopher E. Smith at chriss@ogjonline.com.

Related Articles

China’s demand growth may make it globally dominant, speakers suggest

09/18/2014 China potentially could dictate terms as the fastest growing market in a world suddenly awash in potential oil and gas resources, speakers suggeste...

Spectra, NU announce New England gas pipeline expansion

09/17/2014 Spectra Energy Corp., Spectra Energy Partners, and Northeast Utilities (NU) plan to build the 1-bcfd Access Northeast natural gas pipeline expansio...

Senators offer bill to reform energy project cross-border permitting

09/16/2014 Four US senators—2 Democrats and 2 Republicans—introduced legislation to prevent extended delays of energy projects requiring a cross-border permit...

API official calls for end to nearly 6-year Keystone XL permit delay

09/16/2014 Three days before the sixth anniversary of TransCanada Corp.’s original filing for presidential approval of the proposed Keystone XL crude oil pipe...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected