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Gazprom may acquire stake in Baglan Bay plant

Russian gas company Gazprom plans to acquire a stake in Britain’s Baglan Bay power plant in affiliation with German utility E.ON, Reuters has reported, citing the Vedomosti newspaper as its source.

GE Energy, the owner of Baglan Bay, had earlier in the year considered the sale of the gas-fired power plant for $1 billion, the report said, citing The Daily Telegraph. The report also said that while Gazprom was planning to acquire stakes in E.ON power assets in Britain, E.ON plans to acquire a 25% stake in Gazprom’s Yuzhno Russkoye field, as part of the asset swap deals between the two companies that have been going on for some time now. The newspaper added that the Baglan Bay share could be a part of the Gazprom-E.ON Yuzhno Russkoye transaction. (energy-business-review.com)