GDF Suez wants to become Nabucco West shareholder

GDF Suez wants to become Nabucco West shareholder

 

Nabucco Gas Pipeline International GmbH has welcomed signing of a deal in Vienna on purchase of the share of OMV (Austria) in the Nabucco West project by GDF Suez (France), Trend reports.

OMV (Austria), FGSZ (Hungary), BEH (Bulgaria), Transgaz (Romania) and BOTAS (Turkey) are the shares of the project. Reinhard Mitchek, Executive Director of Nabucco Gas Pipeline International GmbH, that GDF Suez’s share will strengthen the project.

Franc Zibert, Financial Director of Nabucco Gas Pipeline International GmbH, approved the new shareholder.

Nabucco West will be a 1300-kilometer pipeline (412km running through Bulgaria, 469km through Romania, 384km through Hungary, 47km through Austria) running from the Turkish-Bulgarian border to Baumgarten (Austria). It will transport gas extracted in the second stage of the Shah Deniz Field.

Nabucco West and the Trans-Adriatic Pipeline (TAP) are the two routes proposed to transport gas. The final decision will be made in June 2013.

Shareholders of Nabucco West and partners of the Shah Deniz project were offered to sign deals on financing and ownership. Potential investors have an opportunity to buy 50% of shares in the Nabucco West project.

 

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