RWE and Gazprom terminate talks on potential joint venture

German public utility company RWE and Russian natural gas extractor Gazprom today agreed to terminate at the end of the year their exclusive talks on a potential joint venture for the construction and operation of power stations in Germany, the UK and the Netherlands.

These talks had started in July this year and the parties agreed to explore potential co-operation possibilities by the end of the year.

Dr Juergen Grossmann, chief executive of RWE, said: ‘Although our discussions were conducted in a very constructive manner, we were unfortunately not able to agree on a framework for co-operation that would be sustainable for both parties.’