Gazprom's chairman, Aleksei Miller, was quoted by the International Herald Tribune as saying that Gaz de France would be welcome, but that "this decision could be taken if the new partner brings something new of strategic importance," such as the sale and distribution of gas. Gazprom has been holding talks with officials from France's Economy Ministry in an effort to win permission to distribute gas in France. Miller was speaking in Moscow, where Gazprom officially inaugurated the North European Gas Pipeline Co that will oversee the financing and construction of the project. The pipeline would for the first time allow Gazprom to deliver gas directly from Russia to Western Europe. "We are interested in participating in the North European Gas Pipeline" said a spokeswoman for Gaz de France, which is 80% owned by the French government. "It would be a source of energy. It would mean long-term supplies for France." The German energy companies E.ON Ruhrgas and Wintershall, which signed-up with the project in September, 2005, each hold a 24.5% stake, while Gazprom retains 51%. The German companies have always said they were interested in finding a third partner to help share the cost, which was originally estimated at $7.2bn, and is scheduled to be completed in 2010. Gaz de France would not comment on the conditions set by Gazprom. Instead, it said it was preparing for 2007, when the gas sector in France would be completely liberalized, in accordance with European Union regulations. The company now enjoys almost a monopoly, with about 83% of the natural gas market in France, according to the International Energy Agency.