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 [email protected].
Christopher E. Smith | Editor in Chief
Christopher brings 27 years of experience in a variety of oil and gas industry analysis and reporting roles to his work as Editor-in-Chief, specializing for the last 15 of them in midstream and transportation sectors.