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Thursday, May 29, 2008

European Parliament Urged Gazprom to Find Another Route for Nord Stream

May 28, 2008 - Kommersant - European Parliament’s PETI concluded that Nord Stream gas pipeline that Gazprom intends to lay offshore via the Baltic Sea from Russia to Germany would threaten the environment and proposed to consider some other routes for this purpose. PETI focused on the issue after receiving a petition signed by 30,000 EU residents, mostly from the Baltic States. The authority backed up the petition and forwarded it to the European Parliament that will deliver a nonbinding resolution in July. Russia needs Nord Stream to sell gas to Europe bypassing the intermediary nations. The plans are that the first stage of the gas pipeline will be constructed in 2010, while the second stage will be put into operation in two years. Gazprom again evaluated the project budget in April 2008. According to monopoly, laying Nord Stream, which length will reach 1,200 kilometers will cost €7.4 billion. In addition to Gazprom that owns 51 percent, the Nord Stream operators are German Wintershall, E.ON Ruhrgas (20 percent each) and Netherlands Gasunie (9 percent).

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