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Tuesday, September 27, 2005

$24.5 million to be invested in pipeline in 2006

ST.PETERSBURG, September 27 (RIA Novosti-Northwest, Olga Vtorova) - Some $24.5 million will be invested in the construction of the North European gas pipeline in 2006, a board member of Russian natural gas monopoly Gazprom told journalists Tuesday. Valery Golubev, participating in a round table on Gazprom's investment program, said there were plans to build a 144-km-long piece of the 500-km land section of the pipeline in 2006. "A special commission, registered in Switzerland for tax optimization, will be established to deal with the construction of the gas pipeline's marine part," Golubev said.

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