Nord Stream gas pipeline expansion requires no more approvals from EU — Gazprom

ST.PETERSBURG, September 7. / TASS /. The expansion of the Nord Stream gas pipeline does not require any new approvals by the European regulators, Gazprom’s Deputy Chairman Alexander Medvedev told reporters on Monday.

According to him, there are all the necessary permits for the construction of two new lines of the pipeline under the Baltic Sea, Medvedev said.

Europe needs Russian gas and cannot do without it even under the most pessimistic forecasts, he said.

Deal with Wintershall on assets swap connected to Nord Stream expansion

According to Medvedev, the deal between the Russian gas giant Gazprom and German Wintershall is connected to the expansion of the Nord Stream project.

The completion of the assets swap deal is connected to the project of construction of new lines, he said.

Medvedev added that "we do not have to coordinate the deal with the European Commission. We have obtained all the necessary permits earlier."

As a result of the deal Gazprom could increase its stake up to 100% in the joint ventures selling and storing gas in Europe - WINGAS, WIEH and WIEE, and also receive a 50-percent stake in the company WINZ, a leading exploration and production of hydrocarbons in the North Sea.

In turn Wintershall will receive a 25.01% stake in the project for the developing and production sections 4A and 5A of the Achimov deposits of the Urengoy gas condensate field.

Nord Stream 2 is the construction project of the natural gas pipeline with the capacity of 55 bln cubic meters from Russia to Germany across the Baltic Sea. The route and the entry point to the German gas transport system in Greifswald are intended to be the same as for the first Nord Stream gas pipeline launched in 2011. The project will be implemented by the New European Pipeline AG. In this company Gazprom will hold 51%, Germany's E.ON and BASF/Wintershall, the British-Dutch Shell and Austrian OMV will hold 10% each, France’s ENGIE will own 9%