Trio sign accord on two further Baltic Sea gas pipelines

Senior representatives of Gazprom, Shell, and OMV have signed memoranda of understanding on new infrastructure to take Russian natural gas to Europe.

Jun 19th, 2015

Offshore staff

ST PETERSBURG, Russia – Senior representatives of Gazprom, Shell, and OMV have signed memoranda of understanding on new infrastructure to take Russian natural gas to Europe.

The companies plan to construct two gas pipelines through the Baltic Sea fromRussia to Germany, with a throughput capacity of 55 bcm/yr (1.9 bcf/yr).

New infrastructure is needed, they added, to secure supplies in light of decreasing gas production in Europe and increasing global gas demand.

They plan to establish a joint company soon to implement the project, applying experience gained byNord Stream AG with its two Baltic Sea gas lines since 2012, and results of a recent feasibility study.

06/19/2015

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