GDF SUEZ Acquires Interest in NABUCCO Gas Pipeline, Austria

OMV sold approximately nine per cent of the NABUCCO Gas Pipeline International GmbH to GDF SUEZ, one of the biggest players in the French energy sector. This transaction comes shortly after OMV has taken over the stake from the former shareholder RWE.

Gerhard Roiss, OMV Chief Executive Officer: “Having GDF SUEZ as new partner for Nabucco West is another milestone for the project. It proves that we are on the right way to provide Europe with more gas and to secure new sources of gas for the future.”

The step of the new partner from France is also a clear sign of the broad pan-European backing for Nabucco West. Following closing, the company is owned by six reliable partners: BEH (Bulgaria), BOTAS (Turkey), FGSZ (Hungary), GDF SUEZ (France), OMV (Austria) and Transgaz (Romania).

The deal with GDF SUEZ is another important step forward. “This year we have already seen considerable progress for Nabucco West”, adds OMV CEO Gerhard Roiss. “With this strengthened pan-European partnership we are looking forward to the upcoming decision of the Shah Deniz II consortium concerning their preferred delivery route to Europe.”

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LNG World News Staff, May 28, 2013; Image: NABUCCO