Gazprom buys South Stream shares from partners

OAO Gazprom has purchased shares in South Stream Transport BV from Italy’s Eni SPA 20%, Germany’s Wintershall AG 15%, and France’s EDF Energy 15%. Financial terms weren’t disclosed beyond reimbursement of “cash invested.”

South Stream Transport was founded to construct the offshore portion of the South Stream gas pipeline through the Black Sea, but the pipeline was cancelled by Russia in December (OGJ Online, Dec. 2, 2014). Gazprom now owns 100%.

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