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7 November 2007 - Germany utility E.ON and Russia's Gazprom are considering joint construction of power plants in Europe, E.ON CEO Wulf Bernotat told Kommersant in an interview.
"We are now talking about Gazprom taking a stake in E.ON's existing facilities in Europe, including Germany, as well as the construction of new facilities," Bernotat told the Russian daily.
Gazprom has become less interested in Hungarian assets, which E.ON had offered for an asset swap, Bernotat said.
"In the course of our discussions we have talked about Hungarian assets, which E.ON bought during the MOL privatization," Bernotat said.
"After a while, however, Gazprom decided to concentrate on gas power stations in Western Europe."
Under an asset swap deal between Gazprom and E.ON announced in mid-2006, the Hungarian assets were among the assets to go to Gazprom in return for a stake in Gazprom's Yuzhno-Russkoye field.
The Yuzhno-Russkoye deal with E.ON has yet to be finalized.
On the UK market, Bernotat said Gazprom is not interested in E.ON UK, its electricity distribution business.
"Gazprom is interested in stakes in power stations in Great Britain, but not in E.ON UK," Bernotat said. "Now we should not discuss the details of the talks in the press, since talks are at an active stage," Bernotat said.
E.ON is one of the largest foreign investors in Russia. It recently bought into Russian wholesale generation firm OGK-4.
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