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