Pipe plans: Gazprom will take a stake in the Balticconnector
31 May 2007 10:29 GMT
Finnish gas company Gasum said it planned to build a gas pipeline from Estonia to Finland and could see no technical hindrances for the line under the Baltic Sea.
The line would have an annual capacity of 2 billion cubic metres and cost €100 million ($134 million) and €120 million, Reuters quoted Gasum executives as telling a news conference.
Gasum said it would start an environmental assessment for the line during the second half of the year and expects the report to be ready in 2008.
The gas pipeline would be operational in 2011 at the earliest, the company said.
Other companies taking part in the project are Russian state gas exporter Gazprom, Estonian Eesti Gaas and Latvijas Gaze.
Gasum said the new line, called Balticconnector, would offer an alternative natural gas route from Russia via Baltic countries to Finland and if needed via Finland to the Baltic, Reuters said.
The pipe would also connect Finland to Latvia's Inchukalns gas storage, it added.
Gasum, which is owned by Fortum , Gazprom and E.ON Ruhrgas as well as the Finnish state, currently has a pipeline for natural gas imports from Russia through southeast Finland.
Your message has been sent
E-mail this to a friend.
Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.
Already a member?
News from other NHST publications
All material published in the newspaper and on upstreamonline.com are Upstream's copyrighted material. Redistribution of any kind without a prior written permission of Upstream (including but not restricted to, redistribution by e-mail, publishing in part on your company's Intranet and publishing on Internet) of any material published by Upstream, will violate Upstream's copyright, and is prohibited by law. You may, however, download material from Upstream for your own personal use.
To protect your subscription investment, we've instituted a security system to protect against the electronic redistribution of copyrighted Upstream Online content.