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Nabucco Pipeline

GDF Suez Buys Stake in Nabucco West Pipeline Consortium

The French utility GDF Suez S.A. (GSZ.FR) has bought around 9% in the proposed gas pipeline project Nabucco West from Austrian oil and gas company OMV AG (OMV.VI), OMV said Tuesday.With the purchase, GDF Suez replaces German utility company RWE AG (RWE.XE), which sold its 17% share in the pipeline to OMV--one of the main shareholders of the proposed pipeline--in April for an undisclosed sum.The transaction between OMV and GDF Suez is expected to close in the second half of 2013 and the companies have agreed not to disclose the purchase price or other conditions of the deal, OMV said.Nabucco West is one of two remaining proposed pipelines in the running to bring Caspian Sea gas supplied by the Shah Deniz consortium to Europe, helping to decrease the region's dependency on Russian gas.Should the final decision fall in Nabucco West's favor, the pipeline's shareholder structure will face another shake up because the Shah Deniz consortium has already announced that it will take at least a 5...

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  1. Shah Deniz's Cook:Don't Know Which Pipeline Will Have More Compelling Offer

    Both of the pipelines projects that are competing to bring gas from the Caspian Sea region to Europe via the Southern Gas Corridor have an equal chance of being sele...

  2. Bayerngas No Longer Eyeing Stake in Nabucco Pipeline Project

    Bayerngas GmbH, a publicly owned German-Austrian gas procurement vehicle, no longer seeks a stake in the Nabucco gas pipeline project that is competing to ship Caspi...

  3. Shah Deniz Gas Project Investors Would Get 50% of Nabucco if Pipeline Chosen

    The companies leading the development of a giant natural gas field in Azerbaijan have agreed to fund the development of Nabucco West, one of two pipeline projects co...

  4. RWE Seeks to Exit Nabucco Gas Pipeline Project - Sources

    German utility RWE AG (RWE.XE) plans to exit the Nabucco pipeline consortium, one of two European pipeline projects that are presently competing to ship natural gas ...

  5. Shah Deniz Consortium Seeks About 50% Equity Stake in Nabucco -BP Executive

    BP PLC (BP) and its partners in an Azeri natural gas field are seeking an equity stake of about 50% in the Nabucco pipeline that is competing to provide an alternati...

  6. Nabucco's Mitschek: Expects Equity Share Agreement with Shah Deniz by October

    Negotiations between the Nabucco pipeline consortium and the group behind the Shah Deniz II gas field are progressing well and an agreement is expected by the end of...

  7. EU Energy Chief Committed to Opening Southern Corridor

    Europe remains committed to plans to build a pipeline to bring gas from the Caspian Sea region to Europe, European Union energy chief Guenther Oettinger said Monday....

  8. Bulgaria to make up delays in gas link projects

    VARNA, Bulgaria (Reuters) - Bulgaria pledged to make up for delays in connecting its gas network with neighboring Balkan countries and hopes to have links with neigh...

  9. BP, Total, Azerbaijan's Socar To Fund TAP Gas Pipeline Project

    Plans for the Trans Adriatic Pipeline project, aimed to carry Caspian natural gas to Italy, received a boost Thursday, as the pipeline consortium said energy giants ...

  10. BP, Total, Socar To Fund TAP Gas Pipeline Project

    Energy giants BP PLC (BP), France's Total SA (TOT) and Azerbaijan's state oil company Socar have agreed to fund the Trans Adriatic Pipeline project, planned to carry...

  11. OMV's CEO: Too Early to Discuss Nabucco Pricing Mechanism

    OMV AG's (OMV.VI) Chief Executive Officer Gerhard Roiss said it is too early to discuss pricing mechanisms for natural gas to flow through the Nabucco West pipeline....

  12. OMV CEO Expects Nabucco Suppliers To Take Stakes In Pipeline - Report

    The chief executive of Austrian oil and gas producer OMV AG (OMV.VI) expects that key suppliers of its planned Nabucco gas pipeline will take stakes in the showcase ...

  1. OMV's Roiss: Sale of Share in Nabucco Could Be Announced Within Weeks - Report

    Details about negotiations to sell a recently-acquired stake in the Nabucco West gas pipeline project consortium could be made public within weeks, the head of the A...

  2. Shah Deniz Mulls Rival Pipelines To Take Azeri Gas To Europe

    The BP PLC-led (BP.LN) Shah Deniz consortium said Thursday it has begun evaluating binding transportation offers from two pipeline consortiums vying to carry natural...

  3. Nabucco to Submit Binding Bid for Shah Deniz Field End-April

    Nabucco Gas Pipeline International GmbH will submit its binding bid for a natural gas field in Azerbaijan, called Shah Deniz, at the end of April, the company said F...

  4. Enel CEO: More Interested in Buying TAP Pipeline Gas Than Stake in Project

    Italian utility Enel SpA (ENEL.MI) is more interested in buying the Caspian natural gas that will be carried by the planned Trans Adriatic Pipeline than in acquiring...

  5. Nabucco Gas Pipeline Project Signs Deal with Tanap

    The consortium planning the Nabucco pipeline said Monday it has signed an agreement with Tanap, the other planned pipeline, that would feed it with Caspian natural g...

  6. Greece, Albania, Italy Sign Trans Adriatic Pipeline Agreement

    Greece, Italy and Albania Wednesday signed a three-way inter-governmental agreement backing a proposed pipeline that would bring gas from Azerbaijian to Europe, part...

  7. Europe May Receive Gas From Azerbaijan By 2019

    Special to DOW JONES NEWSWIRESBAKU, Azerbaijan--Deliveries of natural gas to Europe from the Shah Deniz 2 field in Azerbaijan will begin in 2019, a deputy chief exec...

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