Russian gas goliath Gazprom is to secure an indirect stake in Portuguese oil and gas outfit Galp Energia through purchasing a holding in Galp shareholder Amorim Energia, local newspaper Diario Economic has insisted.

Galp had issued an earlier denial to the Portuguese newspaper’s suggestion, stating that no deal had been agreed. However, Diario Economic has reiterated that a deal will go ahead that will see Gazprom acquire an indirect interest in Galp, AFX news has reported.

In explaining the earlier rebuttal, Diario Economic suggested that the denial referred to the fact that a concrete agreement had not been reached with the Russian firm, but the Portuguese newspaper suggests a purchase agreement for a share in Amorim Energia is now due to be set by an independent evaluator.

The size of stake Gazprom is pursuing in Amorim Energia has not been divulged. However, the latter currently is the joint largest shareholder in Galp Energia, holding 33.3% of the company.