Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

BASF Will Cooperate With Gazprom
October 19, 2015 11:00


The German concern BASF plans to invest about two billion euros in joint projects with “Gazprom” in the next five years. It was reported by “Interfax” referring to the statement of the Head of BASF Kurt Bock made at a press conference.

BASF is one of the main partners of “Gazprom” in the implementation of the “Nord Stream 2” project. At the same time on October 8 the European Commissioner for Climate and Energy, Miguel Arias Cañete, speaking before the members of the European Parliament in Strasbourg said that the gas pipeline project “Nord Stream-2” did not correspond to the EU strategy on diversification of the sources and routes of gas supplies. Cañete noted that if the pipeline was built, it would not only increase Europe’s dependence on a single supplier, but also increase Europe’s dependence on a single route. 80 percent of gas exports from Russia after completion of construction will be delivered in Germany. In turn, this will lead to a dominant position of “Gazprom” on the market.

The Shareholders’ Agreement on the construction of the third and fourth lines of the pipeline “Nord Stream” (“Nord Stream-2” project) was signed in early September within the framework of the Eastern Economic Forum in Vladivostok. The structure of the new consortium includes “Gazprom”, E.ON, Shell, BASF / Wintershall, OMV and ENGIE. (51 percent are owned by the Russian concern, 9 percent – by ENGIE, the rest own 10 percent). New two lines with a total annual capacity of 55 billion cubic meters will go from the Russian coast of the Baltic Sea to Germany.

The current “Nord Stream” pipeline includes two lines that are 1224 kilometers long with a capacity of 27.5 billion cubic meters per year each. It passes through the bottom of the Baltic Sea and connects the power system of the European Union with the largest natural gas fields in Western Siberia.


Author: Anna Dorozhkina

Tags: Gazprom     

Next Previous

You might also find interesting:

Road to Nowhere Forbes: the Most Reliable Russian Banks The Bankruptcy Of Neva Travel Agency Buzz Barometer: Nine Countries Suffer Rouble Devaluation The Most Profitable Russian Franchises - 2019

Comment on our site

RSS   twitter      submit

Valeri Zolotukhin  Russian Internet  Exhibitions in Moscow  Trsaritsyno Museum Estate  Alexander Vershbow  Sergey Kuryokhin  Russian courts  Russian economy  Russian scientists  Roberto Rosetti  Russian Railways  St. Petersburg  pavel  fesival of reconstruction  Pushkin Museum of Fine Arts  Russian science  Tver  Syria  Elbrus  Mercedes-Benz Fashion Week Russia  Samara  Russian ballet  Mikhail Yefremov  Google maps  Russian social networks  Moscow  Russian political parties  oyster  Far East  Russian education  Tatyana Navka  Rogovs House  Resort Olympus  Vnukovo  Russian oil and gas industry   Alexander Lebedev  Russian Cinema  Russian tourism  Regional Cuisines  Russian business  Ryazan  National Village  Russia-Spain  Russian GDP  Free Events  weather  Russian resorts  Russian beaches  the Red Square  Russian Rock Music 

Travel Blogs
Top Traveling Sites