Dec. 29, 2014, 4:49 PM
- Gazprom (OTCPK:OGZPY) is buying out the 50% stake in South Stream Transport project it didn't own from partners ENI, BASF (OTCQX:BASFY), and EDF, following Vladimir Putin's Dec. 1 decision to cancel the South Stream pipeline project, citing EU objections.
- The purchase price hasn't been disclosed, but ENI, BASF, and EDF have said they're recovering their investments. South Stream, which aimed to transport gas across the Black Sea from Russia to Bulgaria (and thus bypass Ukraine), was expected to have a $40B+ price tag if finished.
- Following Putin's move, Gazprom has proposed building a Black Sea pipeline that would deliver gas to Southern Europe via Turkey.
Nov. 20, 2013, 7:08 AM
- Eni (E) has agreed to sell its 60% stake in Arctic Russia to to Yamal Development, a joint venture owned by Novatek (NOVKY) and GazpromNeft (OGZPY), for $2.94B.
- "With this sale, Eni monetizes its investment in Siberian upstream assets, which have...significantly matured," the company said.
- Arctic Russia owns 49% of Severenergia, which holds four licenses for the exploration and production of hydrocarbons in the region of Yamal Nenets in Siberia. (PR)
Mar. 16, 2012, 10:49 AM
Feb. 29, 2012, 7:19 AM
Gazprom (OGZPY.PK) may buy stakes in Greece's DEPA gas monopoly and its transport branch DEFSA, according to a published report. The sale would move Greece's privatization efforts along and allow Gazprom a more direct route to provide gas to Europe. The companies may be worth $1.5-2B, but the sale price could be lower as Greece is a forced seller.| Feb. 29, 2012, 7:19 AM