Gazprom Might Join Gas Turbine JV With Siemens

摘要

Gazprom might replace Power Machines, a blacklisted Russian engi- neering firm, in a gas turbine joint venture with Siemens to help the German engineering company avoid potential sanctions-related difficulties. Siemens now owns 65% in Russia- based Siemens Gas Turbines Technology, the joint venture, and is considering a buyout of the remaining 35% in Power Machines of Russian tycoon Alexei Mordashov, the Kommersant business daily reported this week. Afterward, Siemens might sell 50% in the com- pany to Gazprom’s power arm, Gazprom Energoholding, the daily said, citing a source close to negotiations.