MOSCOW, December 6 (RIA Novosti) - The chief executive of Norwegian oil and gas company Hydro said the company was ready to participate in the Russian-German project to build the North European Gas Pipeline (NEGP), Russian energy giant Gazprom said in a press release Tuesday.
During a meeting with Gazprom head Alexei Miller, Eivind Reiten said the company intended to develop bilateral cooperation on the European natural gas market.
The agreement to build the 1200-km NEGP, expected to cost at least 4 billion euros, was signed September 8 by Gazprom and German energy companies. The pipeline will initially supply natural gas to Germany, and offshoots may subsequently be built to link it with several other countries.
The parties also discussed prospects for cooperation in researching and assessing the potential of Russia's Arctic shelf.
Hydro is a major diversified corporation that produces large volumes of oil, natural gas and power energy. With its main production assets based on the Norwegian continental shelf, the company also produces hydrocarbons in Canada, the Gulf of Mexico, Iran and Angola.
