Gazprom may take indirect stake in Portuguese energy giant Galp

Gazprom may take indirect stake in Portuguese energy giant Galp

Russian gas monopoly Gazprom may buy a stake in Portugal’s Amorim Energia, the second-biggest shareholder of Galp Energia, Portugal’s leading energy firm, the head of Amorim Energia said in a newspaper interview.

“If we are talking about possibilities, it’s a possibility. But it doesn’t depend on me, it depends on the flexibility of (Angolan state oil company) Sonangol to sell part of its stake (in Amorim Energia) to Gazprom,” businessman Americo Amorim told daily newspaper Diario de Noticias.

“There would be no problem if Gazprom were to take a minority stake in Amorim Energia,” he added Monday.

Amorim Energia is 55 percent owned by Amorim Investimentos Energeticos, in which Americo Amorim has about 75 percent and Spanish savings bank Caixa Galicia the remainder.

The remaining 45 percent of Amorim Energia is held by Sonangol.

Galp Energia is discussing the possibility that Gazprom could supply it with natural gas and an agreement between the two firms could be reached within 30 to 60 days, Amorim added.

Italy’s ENI owns 33.34 percent of Galp Energia while Amorim Energia has 31.6 percent. The Portuguese state is Galp Energia’s third-biggest shareholder with 30 percent of the firm.

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