ADVERTISEMENT

Gazprom wants E.ON's Hungary assets for Siberia stake

Deals

OAO Gazprom, the world's biggest natural-gas producer, is seeking to acquire from E.ON AG some of its Hungarian assets in return for giving E.ON a stake in a Siberian gas project. Gazprom is in exclusive talks with E.ON about selling a stake in Yuzhno-Russkoye field, which holds 1.2 trillion cubic meters of gas, Gazprom Chief Executive Officer Alexei Miller said today after the company's annual general shareholders meeting in Moscow. Gazprom already agreed to an asset swap that will give BASF AG a stake in Yuzhno-Russkoye. E.ON has offered to swap some of its Hungarian assets for a stake in Yuzhno-Russkoye. E.ON, which owns a 6.4% stake in Gazprom, aims to produce as much as 20% of the gas it sells to others, as prices for the fuel rise. Miller also said Gazprom is interested in buying a stake in Mol Rt., Hungary's largest oil and energy company and other assets in the country, including power-industry businesses. Mol spokesman, Denis Mohorovic, could not immediately comment. (Bg)

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.