Gazprom To Allow Third Party Access to Nord Stream

In an attempt to align itself with European energy mandates, Gazprom has announced that it is prepared to provide third parties access to the Nord Stream pipeline.

Attending the St. Petersburg Economic Forum, CEO Alexei Miller was reported by local news agencies to have said that the Russian gas monopoly plans to set up a gas trading hub in St. Petersburg, which would facilitate access by independent gas producers to its network.

Miller said that the existence of such a hub would create conditions for the Gazprom to comply with European Union legislation, which require all pipeline operators to offer non-discriminatory third-party access.

Miller was also quoted as saying that Gazprom forecast the price for its European customers at $500 per 1,000 cubic metres in the first quarter of 2012.