Novatek and Energie Baden-Wuerttemberg (EnBW) are considering signing a cooperation deal, Reuters reports, citing Stuttgarter Zeitung. The proposed deal may be valued at about $1.1 billion.

The two companies may either form a merger or Novatek may buy a stake in a unit of EnBW. Novatek is a Russian natural gas producer, while EnBW is a publicly traded electric utilities company headquartered in Karlsruhe, Germany.

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