Agreement with Gazprom for the Acquisition of EDF’s Stake in South Stream

Source Press Release
Company EDFENI S.p.A.Gazprom PJSCWintershall Dea GmbH 
Tags Corporate Deals, Deals, Pipelines/ tankers/ distribution
Date November 29, 2014

EDF and Gazprom have signed an agreement for the acquisition by Gazprom of  EDF’s 15% stake* in the South Stream gas pipeline project (South Stream Transport BV). Following the transaction, EDF will recover the capital invested to date, calculated coherently with existing agreements.

Background: South Stream Transport was owned by Gazprom with a share of 50%, by Eni with a share of 20%, and Wintershall and EDF with a share of 15% each. The company was established to build the offshore section of the South Stream gas pipeline.

* through its holding EDF International

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