French utility GDF Suez (GSZ.FR) and Russian gas giant OAO Gazprom (GAZP.RS) could soon reach a deal in which the French group would take a 9% stake in the Nord Stream natural gas pipeline which runs below the Baltic Sea, French business daily La Tribune reports Wednesday, citing sources close to GDF Suez.
The deal could be reached as soon as October, La Tribune also reports.
Gazprom owns 51% of Nord Stream, while Germany's E.ON (EOAN.XE) and BASF SE (BAS.XE) each own 20% of the project and Dutch group Gasunie owns 9%.
GDF Suez would agree to buy a 9% stake from the German holders on the condition that Gazprom increases its natural gas deliveries to the French group, the newspaper also reports.
GDF Suez declined to comment.