By the OGJ Online Staff
HOUSTON, June 18 -- Vattenfall AB of Sweden has sold its 51% share in its Vattenfall Naturgas subsidiary to the four other present shareholders.
The new ownership structure will be: Ruhrgas Energie Beteiligungs AG of Germany 30%, Statoil AS of Norway 30%, Fortum of Finland 20%, and DONG AS of Denmark 20%.
The name of the company will be changed after the deal is completed.
Natural gas accounts for only 2% of primary energy consumption in Sweden, where Vattenfall Naturgas sells 1 billion cu m/year.
Most of the gas is imported from Denmark and sold to local distribution companies and industrial firms.
Lennart Billfalk, vice-president of the Vattenfall group, said, "The deal should be seen in the context of the opening of energy markets in Europe. The deal is also a step forward in the Vattenfall group's strategy of divesting noncore assets while expanding on the Central European electricity market."
