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

ETP unit gets FERC approval for gas exports to Mexico

03/21/2014 Energy Transfer Partners LP unit Houston Pipe Line Co. LP (HLPC) has received approval from the US Federal Energy Regulatory Commission to build a ...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

Shah Deniz II, South Caucasus Pipeline contracts awarded

03/20/2014 The Shah Deniz and South Caucasus Pipeline consortia awarded project management and construction contracts for the development of Shah Deniz Stage ...

MARKET WATCH: NYMEX crude prices rise on Seaway pipeline expansion news

03/19/2014 Crude oil futures prices rose on the New York market Mar. 18 after Enterprise Products Partners LP told analysts and investors that an expanded Sea...

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