Nampower intends to build 800 MW gas-fired power station to be supplied by the Kudu gas field. A investment decision about the development of the Kudu gas field has to be made when the feasibility study is completed, at last in 2011. However, the Kudu project's partners - Gazprom (54%), Tullow Oil (31%), Itochu (15%) and Namcor - failed to agree about the interest to take in the power project. Energy and Mines Minister wants Nampower to hold a 51% majority while it claims the remaining 49% has to be offered in a bidding process. Gazprom, which holds 54% of the gas field, will bring $1.2bn for the power station and pipelines to carry gas to the processing plants. In return, the Group expects to be given a leading stake in the power station. The investment decision for the Kudu field development is also pending Nampower solve the stake problem and secure sales deal with Eskom (South Africa). South Africa will receive 50% at least of the electricity generated at the power plant.
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