Wingas, E.ON Get 1st OK To Build Nord Stream Connection Pipeline
February 07 2011 - 10:29AM
Dow Jones News
German natural gas companies Wingas GmbH and E.ON Ruhrgas have
received the first of two required approvals to build a northern
German gas pipeline project that aims to link the Baltic Sea
transit pipeline Nord Stream to the German grid.
In an emailed statement project leader Wingas--a 50-50 joint
venture between BASF SE's (BAS.XE) Wintershall AG and Russian gas
monopoly Gazprom OAO (GAZP.RS)--said the companies have received
the green light from authorities in the state of Mecklenburg-West
Pomerania.
Construction work can begin as early as March, the company
added.
A person familiar with the project said that the second required
approval from authorities in the state of Lower Saxony is expected
to be granted later this week.
Wingas and E.ON Ruhrgas--a unit of E.ON AG (EOAN.XE)--are
building the pipeline known as NEL with Nederlandse Gasunie NV of
the Netherlands. A Belgian gas pipeline operator is also expected
to join the project.
NEL is a planned 440-kilometer pipeline that will connect the
Nord Stream Baltic Sea transit pipeline, which is currently under
construction, to the German gas grid.
The NEL consortium had previously said it expects the pipeline
to cost around EUR1 billion.
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com
Fluxys Belgium (EU:FLUX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Fluxys Belgium (EU:FLUX)
Historical Stock Chart
From Jul 2023 to Jul 2024