"Gazprom" has agreed with the German concern RWE on global partnerships in the power of Europe. Within three months of promises to create a joint venture, which will force power plants and RWE will build new ones. "Gazprom" also hints that he wants to strengthen the role of RWE and as a partner in the gas market, surpassing German E.ON. But this part of the negotiations so far is just an attempt to pressure on E. ON, which actively seeks to "Gazprom" price reduction.
The head of "Gazprom" Alexey Miller and chairman of RWE Juergen Grossman signed a memorandum of understanding establishing a joint venture for power generation. As explained by the new company will have power capacity of RWE of Germany, Benelux and the UK, as well as to build new power plants. It is not just about the gas, but also about the coal plants. Instead, RWE will receive from "Gazprom", "natural gas at competitive prices."
Source: "b" in "Gazprom" claim that we are talking about "a possible change in a global partner monopoly in Germany." Until now, such was considered a rival RWE, energokontsern E. ON, "but now, for the first time in forty years, the definition of a" strategic partner "is used not only in relation to E. ON, but also to the RWE". "Now, when you open a new window of opportunity in Germany (due to the reduction of nuclear programs it that may create a demand for an additional 18-20 billion cubic meters annually .-" b "), RWE, more than anyone else, is willing to cooperate, "- says the source" b ". Of course, he adds, this does not mean that "the doors are closed for E. ON ', but a change of priorities in Germany is possible, and the" Russian authorities informed of signing the memorandum with RWE ". Press secretary, Dmitry Peskov, premiere and representative of the E. ON Kai Krishnak refused comment on the situation.
"Gazprom" is not the first declares a desire to enter the European market for electricity. But so far the only asset is its monopoly on Kaunas CHP in Lithuania. Agreement with RWE's first real step in the electricity monopoly in Europe. On the eve of the German Spiegel reported that "Gazprom" can become a part owner RWE (rumors of this appeared in 2008), but it refutes monopoly.
RWE - the second largest energokontsern Germany. Revenue in 2010 - € 53,3 млрд, EBITDA - € 10,2 billion, net profit - € 3,3 billion for the supply of electricity in Germany is the first place in the Netherlands and Hungary - the second in Britain - the fourth in Europe as a whole - the third. Generation in 2010 - 225 billion kilowatt hours
Which station RWE can get the joint venture, nor in "Gazprom", no German concern not explain, noting only that the talks will go another three months. Source: "b" are close to "Gazprom", saying that the final list of assets has not been approved, because he has to take into account the overall strategy of "Gazprom" in the energy sector, which the board will consider a monopoly until the end of the year.
Markets identified in the memorandum are the key to RWE, with the concern's intention was to bring to 2012 the share markets outside of Germany in terms of operating up to 50% (energy sector). However, RWE has financial problems. Standard & Poors recently downgraded the credit rating to A-group, indicating the possibility of falling revenues in the next three years (including due to the tightening of emissions of CO2) and high debt, which reduces opportunities for investment (€ 27,5 billion). In the S & P noted that RWE will sell some assets. The basis of the problem of RWE (as well as other energy companies in Europe) are high gas prices (especially Russian), so the possible discounts from the "Gazprom" is extremely important for the group, said Vitaly Kryukov from the group "IFD Kapital,".
But for the "Gazprom", adds the analyst, talks with RWE may be just an element of pressure on E. ON, which also seeks to reduce gas prices. Michael Korchemkin of East European Gas Analysis and sees no real prerequisites for changing the partner of "Gazprom" in Germany, especially as long as E. ON is a major consumer of Russian gas in the country, buying almost twice as much as RWE (of the order of 18-20 billion cubic meters to 8 billion). In addition, E. ON is a partner of "Gazprom" in a number of projects such as the construction of gas pipeline Nord Stream. Source: "b" in "Gazprom" assures that the pressure on E. ON by negotiations with RWE monopoly is not going to, noting that while the memorandum concerns mainly the electricity sector.
The head of "Gazprom" Alexey Miller and chairman of RWE Juergen Grossman signed a memorandum of understanding establishing a joint venture for power generation. As explained by the new company will have power capacity of RWE of Germany, Benelux and the UK, as well as to build new power plants. It is not just about the gas, but also about the coal plants. Instead, RWE will receive from "Gazprom", "natural gas at competitive prices."
Source: "b" in "Gazprom" claim that we are talking about "a possible change in a global partner monopoly in Germany." Until now, such was considered a rival RWE, energokontsern E. ON, "but now, for the first time in forty years, the definition of a" strategic partner "is used not only in relation to E. ON, but also to the RWE". "Now, when you open a new window of opportunity in Germany (due to the reduction of nuclear programs it that may create a demand for an additional 18-20 billion cubic meters annually .-" b "), RWE, more than anyone else, is willing to cooperate, "- says the source" b ". Of course, he adds, this does not mean that "the doors are closed for E. ON ', but a change of priorities in Germany is possible, and the" Russian authorities informed of signing the memorandum with RWE ". Press secretary, Dmitry Peskov, premiere and representative of the E. ON Kai Krishnak refused comment on the situation.
"Gazprom" is not the first declares a desire to enter the European market for electricity. But so far the only asset is its monopoly on Kaunas CHP in Lithuania. Agreement with RWE's first real step in the electricity monopoly in Europe. On the eve of the German Spiegel reported that "Gazprom" can become a part owner RWE (rumors of this appeared in 2008), but it refutes monopoly.
RWE - the second largest energokontsern Germany. Revenue in 2010 - € 53,3 млрд, EBITDA - € 10,2 billion, net profit - € 3,3 billion for the supply of electricity in Germany is the first place in the Netherlands and Hungary - the second in Britain - the fourth in Europe as a whole - the third. Generation in 2010 - 225 billion kilowatt hours
Which station RWE can get the joint venture, nor in "Gazprom", no German concern not explain, noting only that the talks will go another three months. Source: "b" are close to "Gazprom", saying that the final list of assets has not been approved, because he has to take into account the overall strategy of "Gazprom" in the energy sector, which the board will consider a monopoly until the end of the year.
Markets identified in the memorandum are the key to RWE, with the concern's intention was to bring to 2012 the share markets outside of Germany in terms of operating up to 50% (energy sector). However, RWE has financial problems. Standard & Poors recently downgraded the credit rating to A-group, indicating the possibility of falling revenues in the next three years (including due to the tightening of emissions of CO2) and high debt, which reduces opportunities for investment (€ 27,5 billion). In the S & P noted that RWE will sell some assets. The basis of the problem of RWE (as well as other energy companies in Europe) are high gas prices (especially Russian), so the possible discounts from the "Gazprom" is extremely important for the group, said Vitaly Kryukov from the group "IFD Kapital,".
But for the "Gazprom", adds the analyst, talks with RWE may be just an element of pressure on E. ON, which also seeks to reduce gas prices. Michael Korchemkin of East European Gas Analysis and sees no real prerequisites for changing the partner of "Gazprom" in Germany, especially as long as E. ON is a major consumer of Russian gas in the country, buying almost twice as much as RWE (of the order of 18-20 billion cubic meters to 8 billion). In addition, E. ON is a partner of "Gazprom" in a number of projects such as the construction of gas pipeline Nord Stream. Source: "b" in "Gazprom" assures that the pressure on E. ON by negotiations with RWE monopoly is not going to, noting that while the memorandum concerns mainly the electricity sector.
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