Russian pipeline could reach UK – reports

Submitted by Charlotte Owen on Fri, 2012-06-29 17:13

29th June 2012

Multibillion offshore pipeline could be extended to reach the UK through BP, according to local Russian media

BP is reported to have shown interest in major Russian pipeline project, Nord Stream

State-controlled Russian energy giant, Gazprom may extend its Baltic pipeline project to reach the UK, according to reports.

The Nord Stream pipeline is Gazprom's multi-billion offshore project that ferries Russian gas through the Baltic Sea to Germany. The first of the project's two lines has been opened last November and will have an annual capacity of 27.5 billion cubic meters.

Gazprom's CEO Alexei Miller was quoted by the Ria Novosti agency as saying Friday that BP "has shown an interest" in extending the pipeline, although no agreements have been reached so far, reported AP.

Gazprom owns 51 per cent in Nord Stream, Germany's Wintershall and E.On each own 15.5 per cent, and Netherland's Gasunie and France's GDF Sues each have 9 per cent of the shares.