French company GDF Suez has acquired a 9 per cent stake in Nord Stream AG, after attaining 4.5 per cent each from German shareholders E.ON Ruhrgas and Wintershall Holding.
E.ON Ruhrgas and Wintershall now each have a 15.5 per cent holding. Meanwhile, Russian energy firm Gazprom holds a 51 per cent stake, while Dutch gas infrastructure company N. V. Nederlandse Gasunie holds 9 per cent
.
This agreement was reached at the annual International Economic Forum in St Petersburg, and the final closing of the deal will take place in the coming weeks.
The 1,224 km Nord Stream Gas Pipeline will transport 55 Bcm/a of gas from Russia to Germany, where it will join the European energy grid. The first Nord Stream pipeline will start transporting gas in 2011, and the second pipe will be completed in 2012.
Nord Stream’s shareholders are collectively providing 30 per cent of the €7.4 billion ($US9.1 billion) required to finance the project.
Basket is empty..gif)
