16th May, 2012
European Union authorities announced Wednesday they have cleared a liquefied natural gas joint venture in Angola by BP, Chevron, Eni, Sonangol and Total.
The European Commission gave its blessing having “found that the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share, the presence of a number of credible competitors in the market concerned and competitors’ unchanged ability to access re-gasification terminals,” a statement said.
The Commission specified that although Total, Eni and BP hold capacity rights in re-gasification terminals in Europe, “they will not be able to shut out third parties from accessing them because EU law ensures third party access to gas import infrastructures.”
Therefore, assessors “concluded that the transaction would not impede effective competition in the European Economic Area or any substantial part of it.”