Latest Articles about Western Europe
Ukraine Sells Fixed-Line Operator to Austrian Investment Company
On March 11, the government privatization agency State Property Fund (SPF) signed documents selling 92.8 percent of the fixed-line operator Ukrtelecom shares to ESU, the Ukrainian daughter of the Austrian company EPIC (European Privatization and Investment Corporation). This is the biggest privatization deal since 2005,... MORE
Southern Gas Corridor Risks Loss Of Strategic Focus
“Achieving the objectives of the Southern Corridor,” in the European Commission’s phrase (EurActiv, February 19), implies commitment to its strategic purpose. This is to supply countries along the Nabucco project’s route, from Bulgaria to Austria and Germany, with Caspian gas, thus reducing those countries’ dependence... MORE
Gazprom-Austrian OMV Agreement: A Political Blow To Nabucco
After selling a large block of shares in Hungarian MOL to the Kremlin-connected Surgutneftegaz, Austrian OMV CEO Wolfgang Ruttenstorfer’s final gift to European energy security is an agreement with Gazprom that interferes with the EU-backed Nabucco project. On February 21 in Moscow, Gazprom CEO Aleksei... MORE
Austrian OMV Helped Russian Surgut Launch Takeover Attempt Against Hungarian MOL
Two parallel court proceedings in Vienna have confirmed that Austrian OMV and Russian Surgut Neftegaz had coordinated their hostile takeover attempts against Hungarian MOL. The Austrian and the Russian company were targeting MOL’s oil-refining business, which is recognized as the most efficient in Central Europe.... MORE
Surgut Neftegaz is Thwarted in Hungary, While Austria Examines OMV-Surgut Deal
Vienna’s Prosecutor Office announced on November 17 that it has brought charges against OMV’s oil and gas company CEO, Wolfgang Ruttenstorfer, following the Austrian financial regulators’ investigation into OMV’s sale of a large stake in Hungarian MOL to Russian Surgut Neftegaz (Austria Presseagentur, November 17,... MORE
MOL Well Placed to Fend off Surgut’s New Move
Russia’s Surgutneftegaz has filed a case in Budapest’s Metropolitan Court, seeking legal registration as a stakeholder in Hungarian MOL, the national oil and gas company. Surgut is asking the court to invalidate MOL’s April 2010 refusal to enter the Russian company’s shares in the Hungarian... MORE
Austria Joins Gazprom’s South Stream Project
On April 24, Russia and Austria signed governmental and corporate agreements on Austria’s accession to Russia’s South Stream gas pipeline project. Prime Minister, Vladimir Putin, led the Russian delegation to the signing event in Vienna, with follow-up visits to Italy and Ukraine on April 26... MORE
Ankara Reacts Positively to Papandreou’s Stance on Cyprus
The recent election in Greece resulted in a convincing victory for George Papandreou’s Pan-Hellenic Socialist Movement (PASOK). Despite the fact that Turkish-Greek relations were not a major issue during the election campaign, Ankara closely monitored the election. Turkish Foreign Minister Ahmet Davutoglu stated that Turkey... MORE
Cyprus Peace Talks Intensify
The troubled peace talks have resumed in Cyprus after Greek Cypriot officials boycotted them in the first week of September. As the second part of the negotiations began, the Turkish Cypriot leader Mehmet Ali Talat and his Greek Cypriot counterpart Dimitris Christofias met for their... MORE
Nabucco Intergovernmental Agreement Signed in Ankara
On July 13 the Nabucco transit countries removed an important obstacle for the strategic pipeline project. Attending a high profile meeting hosted by Turkey, the prime ministers of Austria, Bulgaria, Hungary, Romania and Turkey inked the Intergovernmental Agreement (IGA). The ceremony was also attended by... MORE