Subscribe to our news feedGDF Suez to join Nord Stream Project
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Published on Sunday 11th October 2009
French energy firm GDF Suez is expected to join the Nord Stream Project by the end of the year. According to a Reuters account, the companys vicechair JeanFrancois Cirelli spoke of the deal at the World Gas Conference. It has previously been reported that the group would take a nine per cent stake in the scheme, which will see gas delivered to western Europe from Russia via the Baltic Sea. Gazprom is expected to maintain its 51 per cent majority stake. Mr Cirelli said: "At this time there are no big questions or obstacles to completing the deal by year end." When production begins in 2012, some 55 million cubic metres of gas will be transported to Germany every year, where the countrys utility E.ON is the other major shareholder in the Nord Stream Project. Earlier this week, it was announced that Finnish and Swedish waters would be cleared of unexploded munitions in order to prepare a security corridor for the pipeline. 
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