Gasunie joins Baltic gas pipeline project

6th November 2007, Comments 0 comments

6 November 2007, MOSCOW - Dutch gas company Gasunie on Tuesday signed a deal with Russian monopoly Gazprom to help build a controversial pipeline between Russia and Germany beneath the Baltic Sea, Gazprom said.

6 November 2007

MOSCOW - Dutch gas company Gasunie on Tuesday signed a deal with Russian monopoly Gazprom to help build a controversial pipeline between Russia and Germany beneath the Baltic Sea, Gazprom said.

The agreement gives Gasunie a 9 percent stake in the Nord Stream consortium, which is planning a 1,200-kilometre undersea pipeline from Vyborg in Russia to Greifswald in Germany, Gazprom said in a statement.

Gazprom controls 51 percent of the pipeline, which it plans to use to supply energy-hungry western Europe when it is completed in 2010. German firms BASF and EON control 20 percent each, the statement added.

Under the deal signed in Moscow, Gazprom also gets an option on 9 percent of the recently built BBL gas pipeline linking Britain and the Netherlands.

The project has run into objections from Sweden and Estonia on environmental concerns. Poland, which is heavily dependent on Russian gas, objects to the fact that it is being bypassed by the new pipeline.

The technical director of Nord Stream, Sergei Serdyukov, said Tuesday that the pipeline was two months behind schedule due to delays in securing permission from states in the Baltic region, Interfax reported.

The deal was signed by Gasunie CEO Marcel Kramer and Gazprom chairman Alexei Miller at a ceremony attended by Dutch Prime Minister Jan Peter Balkenende and Russian President Vladimir Putin.

"The participation of a Dutch company in the North European Gas Pipeline project makes this a truly multilateral project and of course creates better conditions for its realisation," Putin said in an Interfax news agency report.

[Copyright AFP 2007]

Subject: Dutch news

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