Russia’s Gazprom and five European business partners signed a deal Friday to double the capacity of the Nord Stream gas pipeline, which runs under the Baltic Sea to Germany, at a time when Brussels is working to decrease dependence on Russian gas.
Gazprom will own 51 percent of the joint venture, New European Pipeline AG, with E.ON, Shell, OMV and BASF/Wintershall each owning 10 percent and ENGIE holding 9 percent, according to a statement. The companies agreed to build two pipeline legs with total annual capacity of 55 billion cubic meters in 2019.
That increase in capacity is important because of continuous …read more
Source: European Voice
