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Wednesday, July 20, 2005

Russia may construct new gas pipeline to Turkey

07-20-2005 IntelliNews Today - Russian president Putin declared Russia could construct new trunk of "Blue Stream" gas pipeline to Turkey. The construction cost is estimated at USD 1-1.5bn. However, the analysts are somewhat surprised with that declaration. Presently, about 4.7bn cubic meters of gas per year is transported via the "Blue Stream" pipeline. Its maximum capacity is more than three times larger and amounts to 16bn cubic meters per year. The potential decision would be a simple waste of investment means, as Turkey doesn't plan to substantially increase its gas imports from Russia . The gas could be transited via Turkey to Southern Europe or Balkan States, but that will require additional investments in infrastructure not only in Turkey, making the whole project economically questionable.

Thursday, July 14, 2005

Gazprom increases share in North Transgas Oy

RBC, 14.07.2005, Moscow 19:57:17.Gazprom increased its share in North Transgas Oy from 50 percent (300 thousand common shares) to 100 percent (600 thousand common shares), Gazprom's press service has reported today. Gazprom's share was changed on June 6, 2005. In May 2005, the board of directors of Gazprom agreed upon acquisition of 50 percent of shares of North Transgas Oy, held by Fortum Heat and Gas OY. The increase in the share was linked to the launch of the North European gas pipeline construction project. The capacity of the North European pipeline, to be launched into operation in 2010, is planned at 55bn cubic meters of gas. The gas pipeline will provide for Russian natural gas deliveries to Western Europe directly

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