Gazprom, BASF agree to cooperate within Nord Stream II

Russian gas giant Gazprom and BASF of Germany signed on Friday a memorandum of intent stipulating the cooperation within the project for constructing the Nord Stream II gas pipeline.

The document reflects the parties’ intents to implement a project for constructing two strings of the gas pipeline that would connect the Russian and the German coasts under the Baltic Sea, Gazprom said in a statement.

The new gas pipeline capacity will total 55 billion cubic meters a year.

According to Gazprom, Germany is the biggest Russian gas consumer. In 2014, the company sold 40.3 billion cubic meters in the German market.

 

Image: Nord Stream

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