Reuters: Norway not happy with Gazprom-OMV asset swap deal

Newsroom 16/05/2018 | 18:51

An asset swap deal between Austrian OMV and Russian Gazprom has come under fire in Norway.

The minister in charge of approving the deal has told Reuters in Norway’s first comments on the matter that the country is not happy with the proposed transaction.

Norway is Europe’s second-largest gas supplier after Russia.

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.

OMV head Rainer Seele said in March he expected to close the deal by the end of 2018 as the company looks to cut costs and secure gas reserves.

“We have told OMV that we are not happy for it. But we have said that, if there is an application, we will of course handle it,” Norway’s minister of energy Terje Soeviknes said in an interview, adding that an application had not yet been submitted.

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