According to reports citing Deutsche Welle, German utility RWE and Russia’s Gazprom have terminated talks on joint power generation ventures “upon mutual consent.”

RWE and Gazprom announced in mid-July that they had started exclusive talks on proposals for joint gas and coal fired power plants in Germany, Britain, and the Benelux countries. They signed a memorandum on strategic partnership. Gazprom’s deputy CEO Alexander Medvedev estimated annual increment in Germany’s demand for natural gas at 20 bcm (706 bcf) and additional revenue at (Euro)10bn.

Gazprom had also been in talks with other European companies, including E.ON and Wintershall, prior to its deal with RWE.

RWE is one of the leading German suppliers of gas and electricity.

The cancelled cooperation between RWE and Gazprom could revive hopes for the Nabucco gas pipeline project. RWE is one of the key companies behind the Nabucco consortium, so its cooperation with Gazprom could have forced RWE out of the consortium.