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Gazprom to Discuss Ending Deal on Nord Stream 2 Gas Pipeline Joint Venture

© Sputnik / Mikhail Voskresenskiy / Go to the mediabankGazprom office building
Gazprom office building - Sputnik International
The board of Gazprom’s directors plans to discuss terminating a deal that created a joint venture for the construction of a Nord Stream 2 gas pipeline to Europe, at a meeting on November 9, the Russian energy giant said Wednesday.

Construction of Nord Stream pipeline - Sputnik International
Nord Stream 2 Gas Pipeline Project Contradicts EU Interests
MOSCOW (Sputnik) In September 2015, Gazprom signed a shareholders agreement with France's Engie, Austria’s OMV AG, Royal Dutch Shell, Germany's Uniper and Wintershall to set up Nord Stream 2 AG, a joint venture that would build a pipeline from Russia to Germany across the Baltic Sea.

But stakeholders withdrew their announcement of the firm’s creation earlier this year and said they were looking for other options to implement the project. Gazprom CEO Alexei Miller met with companies on October 4 in St. Petersburg where they affirmed their commitment.

The Nord Stream 2 pipeline aims to deliver 55 billion cubic meters of Russian natural gas a year to the European Union bypassing Ukraine. The pipeline project plans to use the original Nord Stream pipeline for 86-percent of the route before branching off.

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