31 July 2015
DETAILS
BASF subsidiary Wintershall
intends to participate in expanding
the capacities of the Nord Stream pipeline,
which delivers Russian natural gas to European customers
via the Baltic Sea.
A Memorandum of Understanding to this effect was signed today.
This expansion of the Nord Stream pipeline
will consist of two additional pipelines that could
transport up to 55 billion additional cubic meters of
Russian natural gas directly to Germany.
In addition to Gazprom, E.ON, OMV and Shell
have declared their intention to participate in
the construction of the two additional lines of the Nord Stream pipeline.
The first two lines of Nord Stream,
in which the BASF subsidiary Wintershall has a 15.5% stake,
have been operational since October 2012.
The Russian natural gas arrives at the mainland
in Lubmin/Germany on the Baltic Sea coast
and is transported from there via the two connecting pipelines
OPAL (Ostsee-Pipeline-Anbindungs -Leitung – Baltic Sea Pipeline Link) and
NEL (Nordeuropäische Erdgasleitung – North European Gas Pipeline)
to customers in West and Central Europe.
The existing pipelines already make a vital contribution to
strengthening supply security and meeting long-term demand
for natural gas import in Germany and Europe.
The EU’s import requirements are expected to rise further,
since the gap between the production and
consumption of natural gas continues to grow.
The IEA forecasts that European gas production
will fall by about 2% a year,
while consumption will rise by 0.6% per year.
member of the Board of Executive Directors of BASF SE.
“BASF and Gazprom have been cooperating
for more than 20 years on the construction of pipelines
to ensure secure supplies of Russian gas to Europe.
We want to bring our expertise in this field
to the expansion of Nord Stream and
look forward to working with Gazprom and
further European partners on this important infrastructure project,”
CONTACT BASF
Dr. Stefanie Wettberg
Vice President Corporate Communications
Tel +49 621 60-99223
Michael Sasse
Tel +49 561 301-3301
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