France looks to secure more Russian gas via Nord Stream Pipeline
Wed, 3 March 2010
Gazprom Management Committee Chairman Alexey Miller and GDF Suez Chief Executive Officer Gérard Mestrallet have signed a Memorandum regarding additional supplies of Russian natural gas to France as well as the participation of GDF Suez into the Nord Stream Pipeline project.
The Memorandum states that the parties commenced discussions regarding the supply of up to 1.5 Bcm/a of additional gas from 2015 to GDF Suez, via the proposed 1,223 km Nord Stream Pipeline.
The pipeline project consists of two parallel lines, which will transport natural gas through the Baltic Sea from Russia to Germany where it will connect to the European energy grid.
Mr Miller and Mr Mestrallet also expressed their satisfaction with the progress made toward finalising a deal under which GDF Suez will acquire a 9 per cent interest in Nord Stream AG’s capital before construction commences on the pipeline.
Meanwhile United Metallurgical Company (OMK) has become Russia's only supplier of pipes for the construction of the second link of the Nord Stream Pipeline, with pipe delivery under the project scheduled to start in May 2010.
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