Gazprom, German BASF Discuss Cooperation on Nord Stream-2 Project

The sides discussed the prospects of the participation of Germany's BASF in the construction of the Nord Stream-2 pipeline.

MOSCOW (Sputnik) — Alexei Miller, the CEO of Russia's energy giant Gazprom, and chairman of the German BASF SE chemical corporation's board of directors Kurt Bock discussed at a meeting in Berlin the participation of the German company in the Nord Stream-2 project, a press release published on the Gazprom’s official page said.

"During the meeting, participants discussed the prospects for expanding of the bilateral cooperation. It was devoted to the participation of BASF in the construction of the Nord Stream-2 pipeline,” the press release said Tuesday.

Gazprom announced on June 18 that it was planning to build two additional strings of the Nord Stream from Russia to Germany in a joint project with E.ON, Shell and OMV with an estimated cost of 9.9 billion euros ($11.2 billion).

Miller added that the target markets for the Nord Stream-2 gas are the same as for Nord Stream-1, noting that up to 15 percent of all the gas transported via the Nord Steam-1 flows to the United Kingdom.

The first two strings of the Nord Stream pipeline have been operational since 2011 and 2012 respectively, with the annual gas capacity of 55 billion cubic meters.