Implementation of North European Gas Pipeline project discussed

Today, CEO of Russia's Gazprom gas holding Alexey Miller and CEO of the Gasunie company (the Netherlands) George Verberg met and discussed the implementation of the North European Gas Pipeline project. This pipeline will deliver Russian gas via Finland and the Baltic Sea to Europe, Gazprom's press service reported.

The parties also discussed the possibility of Gasunie's participation in financing the North European Gas Pipeline, including the construction and reconstruction of transportation systems in Russia. In the opinion of the parties, the North European Gas Pipeline project is one of the priorities for the EU countries. Its implementation will contribute to diversifying routes of gas supply and to entering new markets.

Miller and Verberg pointed to the necessity of signing a memorandum on understanding, which would be the basis for determining shares and forms of participation of potential partners in the project. The parties stressed that their positions and interests on liberalization of the European gas market were similar. They also pointed out that they shared the idea about long-term contracts on gas supplies to European countries.