Gazprom buys out Eni, EDF and Wintershall out of South Stream

Gazprom buys out Eni, EDF and Wintershall out of South Stream

Gazprom said it has entered into agreements with Eni, Wintershall and EDF on purchasing 50 percent of total shares in South Stream Transport.

The deals with the minority shareholders of South Stream Transport were previously agreed on by the Gazprom Board of Directors.

Gazprom will buy Eni’s 20% stake in South Stream Transport and 15% stakes held by EDF and Wintershall, which will make Gazprom a 100% owner of South Stream Transport.

Following the transaction, Eni, EDF and Wintershall will recover the capital invested to date in the project.

LNG World News Staff; Image: South Stream Transport

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