Support The Moscow Times!

Gazprombank Namibia Talks

Gazprombank is in negotiations to buy a 54 percent stake in Namibia's Kudu gas project, Isak Katali, the southern African country's mines minister, told Namibian state radio.

Gazprombank will decide by the middle of December on the proposals, Katali said.

The sides are divided on the currency used to sell the gas, with regional customers seeking to buy using South African rand and investors planning to sell in dollars, he said, adding that Namibia is ready to shelve development should talks fail. The proposals include an 800-

megawatt gas-fired power station at Oranjemund to be managed by state-run Nampower. Kudu has 1.8 trillion cubic meters of proven reserves.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.