PressTV: Gazprom Lays Bare West’s Vulnerability

Europe’s efforts to reduce dependence on the Russian energy have been dealt a new blow after reports that the Anglo-Dutch energy behemoth Shell was teaming up with Gazprom on several projects. 

Shell as well as Germany’s E.ON and Austria’s OMV Group signed a memorandum with Gazprom last week to build two new Nord Stream gas pipelines under the Baltic Sea to Germany. They hope to ship 55 billion cubic meters of gas to Europe each year.

Shell and Gazprom also signed an agreement of strategic cooperation which will cover a vast area, including asset swaps.

The expanded partnerships fly in the face of European and American sanctions which ban joint ventures with Russian energy companies.

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