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RIA Novosti

World

Gasunie's Nord Stream deal to be completed next week

20:55 07/06/2008
ST. PETERSBURG, June 7(RIA Novosti) - A deal which will see Dutch gas transportation company Gasunie join the Nord Stream gas pipeline project will be finalized next week, a Gazprom official said on Saturday.

"The [company's] registration is being finalized. All internal corporate procedures will be completed next week," Stanislav Tsygankov said during an international economic forum in St. Petersburg.

In November 2007, the Russian energy giant signed a deal with Gasunie, giving the Dutch company a 9% stake in the Nord Stream pipeline being built between Russia and Germany under the Baltic Sea.

Gazprom holds a 51% stake in operator Nord Stream AG, and Germany's BASF and E.ON will transfer 4.5% each of their current 24.5% stake to the Dutch company.

The first leg of the pipeline, which will run 1,200 km (746 miles), with a capacity of 27.5 billion cu m of gas a year, is planned to be commissioned in 2010. The construction of the second leg is due to be completed by 2012.

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