Subscribe to our news feedGazProm to invest in European pipeline
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Published on Saturday 13th February 2010
International oil and gas firm GazProm has been given the goahead to invest in a $10 billion pipeline which will terminate in Germany. The infrastructure will be the first of its kind to link to Western Europe. A Finnish agency has approved Nord Streams plans to construct the new pipeline under the Baltic Sea and gas shipments are expected to commence as early as next year. The new pipeline proposals were objected to by Poland and the Ukraine, the former describing them as the equivalent of the MolotovRibbentrop pact which divided Europe before World War II. However, Alexei Knizhnikov, an oil and gas program coordinator at WWF Russia, told Bloomberg: "In general, approvals and discussions were objective although excessively politicised." "The process that has just been completed doesn’t remove all potential threats and issues at the implementation stage," he added. Recently, Hungary announced that a section of natural gas pipeline between itself and Arad, in Romania, had been completed. 
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