Gazprom to purchase 50% of total shares in South Stream Transport

Gazprom entered into agreements on Dec. 29 with Eni, Wintershall, and EDF to purchase 50% of total shares in South Stream Transport from them. South Stream Transport is a joint project company set up to construct the offshore section of the South Stream gas pipeline – a project that has now been canceled, according to Reuters.

The buyout deals with the minority shareholders of South Stream Transport were previously agreed on by Gazprom’s board of directors.

Currently, Gazprom holds a 50% stake in South Stream Transport, with Eni holding 20%, and Wintershall and EDF each holding 15%.

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