RWE in talks to sell Nabucco stake, OMV chief confirms

Stake sale talks: OMV confirms RWE may sell Nabucco share

Nabucco Gas Pipeline International

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Bill Lehane ,

News Wires

 07 December 2012 11:34 GMT

Austria’s OMV has said it is in talks with Germany’s RWE Dea about buying the German explorer’s 16.7% stake in the Nabucco gas pipeline project.

Rumours of a possible deal have swirled in recent weeks, but Roiss’s remarks are the first to confirm that sale talks are underway.

“We are in talks with RWE about taking over their shares but not for the long term," Roiss told journalists in Vienna, Reuters reported.

RWE said in May it was reviewing strategic requirements regarding the Nabucco project.

The other shareholders in the consortium - each with 16.7% - are Hungary’s MOL, Turkey’s Botas, BEH of Bulgaria and Transgaz of Romania.

The BP-led consortium developing Azerbaijan’s Shah Deniz 2 is due to decide…

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