Caspian Energy partnership

European energy companies

and

are to jointly own newly established Caspian Energy Company (CEC), headquartered in London.

CEC has been set up to develop a pipeline infrastructure that will provide Europe with access to natural gas from the Caspian Sea. CEC is about to begin an analysis of its gas transport infrastructure options. Based on the results, the company will begin development, construction, ownership and operations of gas transport systems across the Caspian Sea.

RWE and OMV are awaiting approval of joint ownership. Once this is granted, both companies will hold a 50 per cent share of CEC with further industry collaborations to be decided at a later stage.