Gazprom acquires stakes in Hungarian gas business

Russian energy giant Gazprom acquired a minority stake in three Hungarian subsidiaries of Germany''s E.On. The two companies agreed on the deal yesterday. Gazprom got 50 percent minus 1 share both in E.On Földgáz Storage and in E.On Földgáz Trade. A 25 percent plus one share stake was also sold for Gazprom in E.On Hungária. In exchange for that, the German company acquired one fourth of the huge gas field Yuzhno-Russkoe in Siberia. But only a framework agreement was reached yesterday, details will be negotiated until the end of the year. VGO