"Gasprom" looks north again at expanding Nord Stream

The monopoly will extend Nord Stream.

Against the background of the protracted problems with the "Turkish Stream" gas pipeline "Gazprom" has returned to expansion plans of the already built Nord Stream in the Baltic Sea, having agreed with Shell, E.On and OMV on the doubling its capacity. Although the project is at a very early stage, according to analysts, it is more realistic than "Turkish Stream", it will also allow the stopping of transit through the Ukraine by 2020 and will strengthen the position of "Gazprom" in the negotiations with Turkey. But for all gas pipeline projects in the EU position of the European Commission will be crucial.

Yesterday "Gazprom" suddenly raised the issue of increasing the capacity of the gas pipeline Nord Stream again. The company signed an agreement with the Anglo-Dutch Shell, the German E.On and Austrian OMV a memorandum of intent to build two gas pipeline branches from Russia to Germany under the Baltic Sea with a total capacity of 55 billion cubic meters. "Gazprom" stated that the parties would "soon" begin to establish a joint project company, at the same time "the positive experience and achievements of Nord Stream AG (the operator of the Nord Stream gas pipeline), including performing due diligence" will be used.