France's SDF Suez to acquire Nord Stream shares by October

[gamavor]

France's SDF Suez to acquire Nord Stream shares by October

 

 

MOSCOW, September 14 (RIA Novosti) - France's GDF Suez will by the end

of October become a shareholder in the company building the Nord

Stream gas pipeline under the Baltic Sea, Gazrpom's deputy CEO said on

Monday.

The $6 billion-euro Nord Stream pipeline between Russia and Germany is

designed to eventually pump 55 billion cu m of Siberian gas per year

to Western Europe, bypassing traditional transit nations.

"All decisions should be agreed upon, [the company's accession] can be

expected in September-October," Alexander Medvedev said.

The Gazprom official announced in June that German partners of the

Russian energy giant had agreed to cede part of their stake in Nord

Stream AG to GDF Suez, so that the French company would be on a level

with the Dutch minor partner Gasunie, which owns 9%.

Germany's Wintershall Holding and E.ON Ruhrgas currently each control

20%, while the Russian gas monopoly has a 51% stake.

Talks to admit GDF Suez were started in April.

The Nord Stream project has triggered environmental concerns among

Baltic Sea states and fears in traditional transit countries that they

will lose leverage when buying Russian gas, on which they are heavily

reliant.

 

 

http://groong.usc.edu/world/eu/msg05763.html

 

 

PS: I believe France's participation in the Southern Stream Project could become the most important step towards Armenia's security and peace in the region. It would lead to Saakakashvili demise and will bring long anticipated isolation of Turkish interests in the Balkans and Caucasus. Improved relations between Turkey and Armenia will not matter that much, however dynamism of the relations South-North will be very positive in the region. Iran may use in the future the existing gas grid of Southern stream to sell gas in Europe via Armenia, Georgia and Russia. The best-case scenario is if instead of through Bulgaria, the pipe passes through Romania, shortening the way to the heart of Europe. Besides, both Gas du France and the Italian gas companies have established long ago their presence in Romania.