Gasunie to join Nord Stream

Offshore staff

AMSTERDAM, The Netherlands --Gasunie and Gazprom have signed an agreement allowing both companies to participate in the Nord Stream pipeline from Russia to Germany, and the BBL pipeline between The Netherlands and the UK.

Under the accord, two of the existing partners in Nord Stream, Wintershall, and E.ON Ruhrgas, each will cede 4.5% of their shares to Gasunie. This will leave Gazprom as 51% operator, with the two German companies each holding 20% shares.

In return, Gazprom will have an option to acquire 9% of BBL Co. The contract signing was witnessed by the Russian and Dutch premiers Vladimir Putin and Jan Peter Balkende, respectively.

11/09/2007