Gazprom Discusses Nord Stream 2 Participation with BASF

Source: Reuters 7/7/2015, Location: Asia

Russian gas giant Gazprom said it had discussed with BASF the possibility of the German firm participating in its Nord Stream 2 gas pipeline project. Gazprom's current partners in Nord Stream 2 - a planned pipeline to Germany under the Baltic Sea - are Anglo-Dutch Shell, Germany's E.ON and Austria's OMV.

The Russian firm said it had met BASF officials in Berlin, but did not give further details. Gazprom separately said it had also met OMV officials in Berlin in Tuesday. It said it had discussed the creation of a joint project company to operate the pipeline, and the possibility of OMV getting a stake in this joint company. BASF and OMV did not immediately respond to requests for comment.

BASF oil and gas subsidiary Wintershall has previously said, in June, that it is keeping faith with its Russian investments and wants to do more there, despite tense relations between Moscow and Europe over Ukraine.

Gazprom currently owns 51 percent in the project to build Nord Stream 2, which has a planned capacity of 55 billion cubic metres per year.


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