RWE Signs Natural Gas Partnership With Iraq's Kurdistan Region
27 August 2010 - 9:18PM
Dow Jones News
German utility RWE AG (RWE.XE) said Friday it has signed an
agreement with the Kurdistan regional government to develop the
northern Iraq region's natural gas infrastructure and source gas
from the area to feed the planned Nabucco pipeline.
In an emailed statement the company's gas procurement wholesale
unit--RWE Supply & Trading--said the agreement aims at helping
the region "to develop and design its domestic and export [gas]
transportation infrastructure" to market Kurdistan's gas
reserves.
RWE Supply & Trading also said it hopes the partnership will
help to negotiate "gas supply agreements to enable gas from the
region to be transported to Turkey and Europe via the Nabucco
pipeline".
The consortium behind the estimated EUR7.9 billion
Turkey-Western Europe Nabucco pipeline comprises Austria's OMV AG
(OMV.VI), Romania's Transgaz, Bulgaria's Bulgargaz, Hungary's MOL
Nyrt. (MOL.BU) and RWE.
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com
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