Gazprom Looks to Nord Stream As it Marks 20 Years

An industry official has said that Gazprom, the Russian energy giant, intends to form a joint venture that would oversee expansion of Nord Stream.

Agency UPI notes that Vladimir Buyanov, a spokesman for BP in Russia, told Voice of Russia last December that the British energy company was working on an agreement with the Nord Stream pipeline consortium, controlled by Gazprom.

Though a consortium was expected in January, a delay into the second quarter was expected for "purely technical" reasons, according to an industry leader who spoke with Russian media.

The twin Nord Stream pipeline runs from Russia's eastern ports through the Baltic Sea to Germany.

Meanwhile the state monolith has celebrated its 20th anniversary with a lavish concert at the Kremlin, the seat of Russian power and official home of President Putin.

The company noted that in its 20 years it had produced 10.7 trillion cubic meters (tcm) of gas and supplied 6 tcm to Russian consumers. Another 4 tcm has been exported.

The company, in a statement, also referred to its "unique gas transmission system."

"During the period of 20 years we have extended it to the length of the Earth’s equator, namely, 40,000 kilometers. We work for the benefit of our country. We are the gas, the heat and the electricity in the homes of the Russians. Over the two decades the gasification of Russia has increased by 23%," it declared.