Gazprom and GDF Sign Agreement for Nord Stream Expansion

Gazprom and GDF SUEZ signed an agreement on Friday to explore the possibility of the Nord Stream gas pipeline expansion.

“We are pleased to point out a high level of cooperation reached by Gazprom and GDF SUEZ during the Nord Stream project implementation. The signed document is aimed at using new opportunities for the project development so as to bring out its full potential. We are convinced that the possible expansion of Nord Stream will contribute to increasing the reliability of gas supplies to Europe as well as meeting the growing demand for natural gas as one of the most eco-friendly and easy to use types of fuel,” said Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.

Medvedev met Jean-Francois Cirelli, Vice Chairman and President of GDF SUEZ at the St. Petersburg International Economic Forum 2013. The parties addressed the Nord Stream project and the status of cooperation in the gas sector.

“GDF SUEZ is very pleased with the work carried out alongside Gazprom within Nord Stream, a project which is highly strategic for Europe’s gas supply in the long run. The implementation of the two Nord Stream lines was very efficiently achieved, within schedule and budget. This is why we are willing to investigate together the interest to further develop this infrastructure, which contributes to the diversification of supply routes to Europe,” commented Cirelli.

Nord Stream is a fundamentally new route for Russian gas export to Europe. Running under the Baltic Sea from the Portovaya Bay (near Vyborg) to the German coast (near Greifswald). The two-string gas pipeline stretches for 1,224 kilometers and has an annual capacity of 55 billion cubic meters.