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Friday, October 13, 2006

Gazprom To Takeover Portugal Energy Giant

10.10.2006 [] - Russian gas monopoly Gazprom may buy a stake in Portugal's Amorim Energia, the second-biggest shareholder of Galp Energia, Portugal's leading energy firm, the head of Amorim Energia said in a newspaper interview. "There would be no problem if Gazprom were to take a minority stake in Amorim Energia," he added Monday. Amorim Energia is 55 percent owned by Amorim Investimentos Energeticos, in which Americo Amorim has about 75 percent and Spanish savings bank Caixa Galicia the remainder. The remaining 45 percent of Amorim Energia is held by Sonangol. Galp Energia is discussing the possibility that Gazprom could supply it with natural gas and an agreement between the two firms could be reached within 30 to 60 days.

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