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PRESS
RELEASE Malabo – April 21st, 2011
EXIT OF E.ON RUHRGAS FROM THE 3G HOLDING LTD CONSORTIUM
Change of shareholder structure - project work proceeding as scheduled Union Fenosa Gas and GALP Energia have acquired the 25% interest of E.ON Ruhrgas in 3G Holding Ltd. E.ON Ruhrgas have withdrawn from 3G Holding for general strategic reasons unrelated to the 3G project. Shareholdings in the 3G Consortium are now as follows:SONAGAS GE 50% Union Fenosa Gas 20% GALP Energia 15% The Republic of Equatorial Guinea 15% The 3G Consortium will continue its work programme to construct and operate a gas gathering system in Equatorial Guinea. The Minister of Mines, Industry and Energy, H.E Marcelino Owono Edu stated 'We highly appreciate the excellent technical and commercial work done for 3G Holding under E.ON Ruhrgas project management, and are grateful for the amicable and rapid transition to the new shareholder structure. I am convinced that under the management of Union Fenosa Gas the project will continue to rapidly progress as scheduled'. The 3G Consortium looks forward to working with all the stakeholders in the gas industry of Equatorial Guinea to bring about the Integrated Project as envisaged by the Ministry of Mines, Industry and Energy. |