OAO Gazprom's (GAZP.RS) deputy chief executive Friday said the entire volume of the Nord Stream AG natural gas pipeline project's first phase, or 27.5 billion cubic meters, has either been contracted or agreed with European companies.
OAO Gazprom's (GAZP.RS) deputy chief executive Friday said the entire
volume of the Nord Stream AG natural gas pipeline project's first phase, or
27.5 billion cubic meters, has either been contracted or agreed with European
companies.
Alexander Medvedev said volumes of gas transported to
Europe
via
Belarus
won't
be reduced when Nord Stream becomes operational.
The Nord Stream pipeline will run from
Russia
to
Germany
. The
project is 51% owned by Gazprom, in partnership with the oil and gas unit of
chemicals group BASF SE (BAS.XE), Wintershall, German utility E.ON AG
(EOAN.XE), which hold 20% each, and Dutch gas network operator Nederlandse
Gasunie NV, which has 9%.
French energy company GDF Suez SA (GSZ.FR) is expected to acquire a 9% stake in
Nord Stream in the coming weeks, with E.ON and BASF reducing their stakes to
15.5% each.
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