Gazprom buys second half of gas project

Russian energy giant Gazprom has bought the second half of the cancelled South Stream gas pipe project. It bought the shares from Italian firm Eni (20%), German oil and gas producer Wintershall (15%) […]

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By Taryn Nixon

Russian energy giant Gazprom has bought the second half of the cancelled South Stream gas pipe project.

It bought the shares from Italian firm Eni (20%), German oil and gas producer Wintershall (15%) and French energy group EDF (15%), meaning Gazprom now owns 100% of the project.

South Stream Transport is the company set up to build the offshore pipe branch of the South Stream project, originally planned to run under the Black Sea through Russia, Bulgaria and Turkey to Eastern Europe.