Gazprom in deal to with European oil majors to build new Baltic Sea gas pipeline

Baltic Sea gas pipeline:  Gazprom has signed an MoU with E.ON, Shell and OMV for the construction of a new 55bn m³ gas pipeline under the Baltic Sea between Russia and Germany at an unspecified date in the future, it announced yesterday. “The new project is …. a second Nord Stream,” Gazprom spokesman Sergei Kupriyanov said, in reference to the pipeline which currently carries  39% of Germany’s  natural gas from Russia.
The new pipeline will be exempt from the EU’s Third Energy Package  that prohibits  gas suppliers also owning  the pipeline that it uses to deliver their gas, “because it will be on the bottom of the ocean and no parts will be on land,” Kupriyanov explained.