The two companies have signed an agreement under which Gazprom will receive the stakes in E.On’s Hungarian businesses in exchange for giving the German group a stake of 25% minus one share in the Siberian gas field Yuzhno Russkoye, one of the world’s largest gas fields.
E.ON and Gazprom intend to conclude a detailed agreement on the exchange of assets by the end of the year. The envisaged Gazprom shareholdings in Hungary are subject to approval by the European Commission and Hungarian authorities.
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