Gazprom Discusses Nord Stream 2 Project With Germany’s BASF
Gazprom said that German Vice-Chancellor Sigmar Gabriel supports Russian intentions to build new pipelines to Europe. The Russian company said that Nord Stream 2 would enhance reliability if Russian gas supplies to Europe.
‘The meeting addressed the reliability of Russian gas supplies to Europe and the progress with the Nord Stream II project. The parties pointed out the success of construction, high operational efficiency and environmental safety of the Nord Stream I gas pipeline and also highlighted the importance of creating new direct routes for Russian gas supplies to Europe amid the declining domestic production in European countries’ Gazprom wrote on Wednesday, referring to a working meeting that took place in Berlin on Tuesday.
Sources reported that BASF could take part in the Nord Stream 2. Gazprom confirmed it on Tuesday evening.
‘The parties addressed further cooperation between the companies. The focus of the meeting fell on the BASF participation in the construction of the Nord Stream II gas pipeline’ reads a separate press release, reporting the working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Kurt Bock, Chairman of the BASF Board of Executive Directors.
Nord Stream is an export gas pipeline with an annual capacity of 55 billion cubic meters. Nord Stream AG, a joint project company, is the project operator. Gazprom holds 51%, BASF’s subsidiary Wintershall and E.ON – 15.5%. ENGIE is the fourth partner with 9%.
Austria’s OMV is reportedly interested in investing too.
‘The parties addressed further actions within the Nord Stream II project, particularly setting up of a joint venture to be responsible for the gas pipeline design, construction and operation. In addition, the meeting touched upon the acquisition of a stake in the joint venture by OMV’ Gazprom wrote on Tuesday, referring to a meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the Executive Board and CEO of OMV.
During the first day of the St. Petersburg International Economic Forum, Gazprom signed a Memorandum of Intent with E.ON and OMV for a 55 bcm gas pipeline.