Gazprom, DONG Seek Joint Power Plant Projects In Europe

Gazprom, DONG Seek Joint Power Plant Projects In Europe
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Δευ, 12 Μαρτίου 2012 - 18:42
Russian state-controlled natural gas giant OAO Gazprom (GAZP.RS) and Danish state-owned energy company DONG Energy A/S are in talks on joint investments in power plants in Northwestern Europe, the Russian company said Sunday.
Russian state-controlled natural gas giant OAO Gazprom (GAZP.RS) and Danish state-owned energy company DONG Energy A/S are in talks on joint investments in power plants in Northwestern Europe, the Russian company said Sunday.

The two companies "agreed on a plan of action with regard to further cooperation in
Northwestern Europe concerning existing gas-fired power plants and the construction of a new, modern steam-gas plant," Gazprom said in a statement.

The plan calls for drafting of project documentation and a financial feasibility study for Gazprom's participation in the projects, the statement said.

Russia--a supplier of close to a quarter of Europe's gas needs--is seeking to expand its presence in the European downstream segment and has shown particular interest in investing in power plants. In December, talks were terminated between German utility firm RWE AG (RWE.XE) and Gazprom on a power production joint venture in
Western Europe .

"Cooperation with DONG has very good prospects," said Gazprom Chief Executive Alexei Miller.

The two companies signed a memorandum of understanding in April last year. A Gazprom executive said in November that the two companies were considering two joint energy projects, but provided no further details.

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