Norway Not Happy With Gazprom-OMV Asset Swap Deal

[BlackTortoise + 103]

Norwegian Energy Minister expressed  dissatisfaction  with an asset swap deal between Austria's OMV and Gazprom that would give the Russian gas giant access to the Norwegian continental shelf, saying that Norway wants to have diversified supplies for gas to Europe. Under a deal agreed in late 2016, OMV offered to swap a 38.5-percent stake in its Norwegian unit for a 25-percent stake in a section of Gazprom's Urengoy gas field and it is expected this deal to close by the end of 2018. Austria's OMV has stakes in more than 30 licences on the Norwegian continental shelf. 

[Tomasz + 1,608]

Gazprom has a lot more stable level of supply than Norway- not Norway's fault simple geology in siberian and yamal fields.

And is the only country that can increase gas supply significantly in very short time- once more we experienced that in late February/March during unexpected peak gas demand in Europe because of cold spell. In late february even UK and Poland didnt complain for russian gas domination.

Edited May 16, 2018 by Tomasz