According to RWE, the joint ownership of the Caspian Energy Company (CEC) by both RWE and OMV is subject to approval by the relevant competition authorities. Once approval is granted, RWE and OMV will hold equal shares of CEC.
CEC will shortly commence a detailed analysis into gas transport infrastructure options that could provide Europe with access to natural gas from the eastern side of the Caspian Sea.
It said that, based on the study’s outcome, CEC will then enter into the development, construction, ownership and operation of gas transport systems across the Caspian Sea.
The respective gas could then be fed into the existing South Caucasus gas pipeline or other newly built pipelines, and from there on into Turkey and the Nabucco gas pipeline, which will form the backbone of the Southern Gas Corridor.
