Gazprom, E.ON, Shell, OMV to build pipe from Russia to Germany

ST. PETERSBURG, Jun 18 (PRIME) -- Gas giants Gazprom, E.ON, Shell, and OMV plan to build a gas pipeline from Russia to Germany through the Baltic Sea with a capacity of 55 billion cubic meters per year, Gazprom said in a statement Thursday.

The companies signed a memorandum of intent to cooperate in a project to create gas transport infrastructure for Russian gas direct supplies to European consumers during the St. Petersburg International Economic Forum.

“The memorandum reflects the sides’ intention to implement a project to build two branches of the pipeline from the coast of Russia through the Baltic Sea to the coast of Germany. The capacity of the new pipeline will be 55 billion cubic meters annually,” Gazprom said.

The sides plan to create a joint company for the project implementation soon and plan to use experience and studies made for the Nord Stream gas pipeline project.

Gazprom will receive at least 51% in the joint venture, official spokesperson Sergei Kupriyanov said. The route of the new pipeline will be similar to the Nord Stream route, he also said.

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