Energy Industry
Industry: Email Alert RSS FeedGAZPROM TO ACQUIRE STAKE IN NATURAL GAS JOINT VENTURE WITH NESTE
Europe Energy, April, 1994
GAZPROM and GAZEXPORT, the Russian gas monopolies, have concluded cooperation agreements with NESTE, the Finnish state-owned oil group. The agreement with GAZPROM foresees the creation of a joint venture which will take over NESTE's natural gas activities, and in which GAZPROM, the supplier of gas to NESTE, will have a 25% stake.
The new company, GASUM, will be established on May 1. In addition, NESTE said it had signed a new 20-year supply agreement with GAZEXPORT.
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