EDF set to join South Stream, GDF Suez to acquire 9% stake in Nord Stream

摘要

EDF and GDF Suez have agreed to join two separate Gazprom-led pipeline projects, with EDF set to acquire a 10% stake in the South Stream pipeline, while a deal for GDF Suez to acquire a 9% stake in Nord Stream is understood to be imminent. The two French energy companies are eager to directly source Russian gas. Security of gas supply is high on the agenda of Europe's gas incumbents following the interruption of Russian gas transits through Ukraine last January and repeated political quarrels between Moscow and Kiev over payment of Naftogaz Ukrainy's monthly gas bills.