Pipeliners

29 June 2007 - Upstream OnLine - Russian gas monopoly Gazprom and its two German partners in the Nord Stream pipeline project are considering inviting Dutch company Gasunie to join the venture, a senior Gazprom official said today. Gasunie could acquire up to 9% of the project to build a gas pipeline from Russia to Germany by taking a 4.5% stake from both BASF and E.ON, Gazprom deputy chief executive Alexander Medvedev said. "Shareholders in the project will meet on 12 July and discuss signing an agreement on Gasunie's entry to the project," Reuters reported Medvedev told reporters. Gasunie is the Dutch national gas grid operator. Gazprom owns 51% of Nord Stream, a planned gas export pipeline from Russia under the Baltic Sea to Germany. E.ON and Wintershall, part of BASF, each own 24.5%. Gazprom would receive a 9% stake in another Dutch firm, BBL Company, which is building a gas pipeline linking the Netherlands with Britain. Gasunie owns 60% of BBL, with E.ON Ruhrgas and Belgium's Fluxys owning 20% each. Gazprom and Gasunie would pay cash for their respective stakes.