Russia: Gazprom decided to purchase European partners out of South Stream pipeline

30/12/2014 00:42 Natural Gas


Gazprom has decided to purchase its European associates Wintershall, EDF and Eni out of the fragmented South Stream gas pipeline project, as stated by the companies on Monday.

Russia left the South Stream project at the beginning of December. It instead suggested an undersea pipeline to Turkey. Before the agreements made known on Monday, Eni owned 20 percent of South Stream Transport, a holding firm based in the Netherlands, with BASF division Wintershall and France's EDF each possessing 15 percent. BASF declared the acquisition price compensates the company for the cash it has spent in the project. BASF and Gazprom also 10 days ago dumped a gas asset swap agreement intended for this year since firms across Europe keep on suffering from increasing tensions between Moscow and the West.

Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand

03/08/2020 11:10:00

Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.


EU bank provides €35m for EV charging stations in Spain

03/08/2020 09:40:00

The four-year project will see the roll out of 8,500 charging points for EVs and hybrid vehicles


Iberdrola obtains environmental permits for €180m solar pv projects

03/08/2020 09:35:00

Spanish multinational utility Iberdrola has obtained the Environmental Impact Statement (EIS) for four solar photovoltaic plants in the province of Cáceres.