Gasprom President and British Energy Minister Discuss Construction of Northern-European Gas Pipeline

President of Gasprom Alexei Miller met with British Energy Minister Brian Wilson in Moscow yesterday. They discussed a number of issues concerning cooperation in the gas sector.

According to the Gasprom press office they discussed the possibility of supplying Russian gas to the British market and also various issues concerning the Northern-European pipeline project. Mr Miller and Mr Wilson agreed to maintain the dialogue and exchange of information on this project.

This project will include the construction of a gas pipeline along the bottom of the Baltic Sea with smaller pipelines branching off to supply gas to the Kaliningrad Region, Finland, Sweden and Denmark. A supply of gas to Great Britain is also being planned. The project will connect Russian gas pipeline system with the European gas network. Gas fields in the Nadym-Pur-Tazov Region and later the Obsko-Tazov Bay and the Shtokman gas fields in Yamal will be the main source of natural resources for the pipeline. The pipeline is expected to start supplying gas in 2007, reaching full capacity in 2009. The total cost of the project is USD 5.7 billion. Gasprom is financing part of the project as are other leading world energy companies.

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