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Tuesday, May 19, 2009

Gazprom Executive: GDF Suez Entry Supported By All Partners

05–19–2009 – BERLIN – (Dow Jones) - GDF Suez SA's (GSZ.FR) planned entry into the Nord Stream pipeline project, which will transport natural gas from Russia to western Europe through the Baltic Sea, is being supported by all consortium members, said Alexander Medvedev, deputy chairman of OAO Gazprom's (GAZP.RS) executive board, Tuesday. Medvedev told reporters at a conference hosted by the Russian Gas Society in Berlin that GDF Suez will acquire a stake from the two German partners, E.ON AG (EOAN.XE) and BASF SE's unit Wintershall, in the pipeline project. Medvedev didn't elaborate on the size of the stake GDF Suez is seeking, but said that the French company has access to the Nord Stream project's data room.

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