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RWE may sell its Nabucco project share to OMV

Oil&Gas Materials 3 December 2012 14:03 (UTC +04:00)
Germany’s RWE, which is one of Nabuco West shareholders, is about to quit the project and could sell its 16.1 percent stake to fellow shareholder Austrian OMV, Reuters reported with the reference to Deutschlands Magazine Focus.
RWE may sell its Nabucco project share to OMV

Azerbaijan, Baku, Dec. 3 / Trend A.Badalova/

Germany's RWE, which is one of Nabuco West shareholders, is about to quit the project and could sell its 16.1 percent stake to fellow shareholder Austrian OMV, Reuters reported with the reference to Deutschlands Magazine Focus.

A possible deal to transfer RWE's stake to the Austrian energy company could still happen before the end of the year, the magazine reported citing industry sources.

Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from the Turkish-Bulgarian border to Austria.

The project's current shareholders are Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ, and each of them holds 16.67-percent share.

In June the consortium of Azerbaijani Shah Deniz gas field development chose Nabucco West as the single pipeline option for the potential export of Shah Deniz Stage 2 gas to Central Europe.

In May, 2012 RWE's official told Trend that the utility analyses the conditions of Nabucco gas pipeline project's new version (Nabucco West) and its ability to meet Europe's strategic goals, adding that the plans for new pipeline projects change general conditions for Nabucco project.

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