Gazprom, Czech Investor Team Up On $256M Gas Terminal

Law360, New York (March 21, 2013, 4:41 PM EDT) -- Russian oil giant Gazprom OAO has reached a joint venture agreement with a division of Czech infrastructure and energy investor KKCG AS to build a new underground gas storage facility in the Czech Republic for $256 million, Gazprom announced Wednesday.

Gazprom and KKCG subsidiary MND Group will invest equally in the in the gas storage plant in Damborice, located in the Czech Republic's South Moravia district. Construction on the facility will start in 2014.

"Gazprom is our strategic partner," Karel Komarek, MND Group's chairman of the...
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