November 6, 2008

Gazprom / OMV E. gas in Central Europe?



Sea serpent, Arlésienne, utopia? or project can not be more realistic mixing the formidable challenges of the various actors around the project of the Nabucco pipeline? Who knows ...

While Russia has already announced (threatened?) Repeatedly to create a scholarship oil, gas companies and oil Austrian OMV and Russian Gazprom said Wednesday - via a press release issued OMV in Vienna - that the two companies plan to jointly create a scholarship and a gas distribution platform from 2009 in Central Europe. This place will trade on gas products on spot markets and futures.

Under the terms of release, OMV and Gazprom would each hold 30% of the structure known as the Central European Gas Hub (CEGH). The latter, 100% owned by OMV, according to the Austrian group, "one of the most important distribution platforms in Europe with a volume of 17.7 billion m3 in 2007.

The Vienna Stock Exchange (or city is the headquarters of OPEC ...) and the Austrian gas Centrex Europe Energy and gas should hold each 20% of the shares. If the agreement is approved by various regulatory authorities, including the Commission of the European Union (EU), should be finalized next year, said OMV.

Last January, OMV and Gazprom signed an agreement which provided then transfer to the Russian company 50% of the shares of the company operating the gas terminal Baumgarten in Austria. This ensures the delivery of Russian gas to Western Europe and thus has a strategic position in the heart of Central Europe.

As a reminder, OMV - Austrian governed management of oil - is a private oil company, founded in 1956, with headquarters in Vienna. 51% of its capital circulating on the market, 31.5% is held by the public holding shares of the Austrian State, 17.5% by IPIC, the Office of Public oil holdings of the State of Abu Dhabi .

The company is the lead agency for the construction of the Nabucco pipeline, which should bring Iranian natural gas to Austria via the Balkans and Turkey, one of whose aims is to initially provide the transit of oil bypassing Russia.

Despite this European project that Russia sees an evil eye but could turn to "circumvent" in its way, however OMV based its strategy on a partnership with Russian companies.

The Austrian company has also partnered with Transpetrol, semi-public oil Slovak, to build from 2008 pipeline Bratislava-Schwechat. This section shall link the refinery to the Austrian trans Druzhba pipeline and be connected directly to Russian oil fields

In addition, OMV, which buys 6.5 billion cubic meters a year from Gazprom, is one of the few European companies allowed to sell Russian gas outside its home market.( Finance Information City )

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