Gazprom and GDF SUEZ sign document for exploring possibility of Nord Stream expansion
Gazprom and GDF SUEZ sign document for exploring possibility of Nord Stream expansion at the St. Petersburg International Economic Forum 2013.
Nord Stream is a fundamentally new route for Russian gas export to Europe. Running under the Baltic Sea from the Portovaya Bay (near Vyborg) to the German coast (near Greifswald), the two-string gas pipeline stretches for 1,224 kilometers and has an annual capacity of 55 billion cubic meters.
The Nord Stream project is implemented by Nord Stream AG joint venture. The stakes in Nord Stream AG are currently distributed as follows: Gazprom holds 51 per cent, Wintershall Holding and E.ON Ruhrgas – 15.5 per cent each, Gasunie and GDF SUEZ – 9 per cent each. GDF SUEZ joined Nord Stream AG as a shareholder in July 2010.
GDF SUEZ is one of the largest energy companies in Europe; it was established in 2008 as a result of the merger between Gaz de France and SUEZ. GDF SUEZ focuses on power generation and implements projects in natural gas exploration, production, processing and distribution.
