Gasunie likely to join Nord Stream project

Jun 29, 2007 02:00 AM

Gazprom's shareholders have approved at an annual general meeting a series of deals on carrying out the Nord Stream project (previously known as North European Gas Pipeline).
One of the approved deals provides for Holland's Gasunie joining an agreement between Gazprom, E.ON Ruhrgas, and Wintershall.

Each of the participants of the project will be required to give up 4.5 % of their shares in Nord Stream in favour of Gasunie.
Furthermore, the shareholders have also approved the final agreement between participants of the Nord Stream project on its expansion and financing. According to the document, Gazprom will have to contribute EUR 1.5 bn to the project.

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