icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Gazprom and E.ON complete asset swap

Gazprom and E.ON have finalized an asset swap which will see the German energy giant with a stake in the Yuzhno-Russkoye gas field after four years of talks.

Gazprom has obtained 49% of the Russian energy trading company E.ON Gerosgas, which holds a 2.93% stake in Gazprom. In exchange E.ON has received a 25% stake minus three shares in the gas field, where it will join with BASF, its partner on the Nord Stream pipeline in developing the promising gas field.

The gas field is expected to provide half of the gas to fill Nord Stream when it is built.
Gazprom CEO Aleksey Miller hailed the agreement, saying it takes relations between the companies to a new level.

“We have reached a new level in our relations. We will now work jointly in the extraction of gas, its transportation, as well as distribution and sale. We have also discussed a possible co-operation with our German partners in the exploitation of the Yamal gas field. We have reached a level of friendship rather than just partnership.”

Meanwhile, Gazprom says demand for gas in Europe has returned to the pre-crises levels. Consumption plunged in the first half of the year due to the downturn, but is now higher than during the same periods in 2008 and 2007.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.