Gazprom will no longer pursue an asset swap deal with Austria’s OMV that would have given the Russian gas giant an upstream presence on the Norwegian Continental Shelf.

According to a new deal signed in St Petersburg, OMV has agreed to buy a 24.98% stake in the Gazprom-led Achimov 4A and 5A phase gas development project “in a straight cash transaction.”

It replaces a previous deal from December 2016 that would have seen OMV take the Achimov stake in return for Gazprom taking a 38.5% stake in OMV’s Norwegian subsidiary, OMV Norge, according to S&P Global.

“The signing of the final transaction documents is expected at the beginning of 2019,” OMV said in a statement.

The purchase price for the stake, OMV said, would be “negotiated in good faith.”

Once the deal is completed, Gazprom’s stake in the project to develop the Achimov 4A and 5A phases of the Urengoy gas field in northern Russia will fall to 50.01%. Germany’s Wintershall holds the remaining 25.01%.