Archive for December 29th, 2009

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Nordstream

December 29, 2009

BERLIN (AP) — German authorities granted formal approval Monday to build a pipeline to transport natural gas under the Baltic Sea from Russia, meaning that just one permit from Finland is still outstanding, the company running the project said.

Nord Stream AG said Germany’s Federal Maritime and Hydrographic Agency granted a permit to build a 19-mile (31-kilometer) stretch of the pipeline in Germany’s exclusive economic zone.

Nord Stream already has a second German permit covering the 31-mile (50-kilometer) section in German territorial waters, and has permits from Denmark, Sweden and Russia, through whose waters the pipeline will pass.

“We are firmly on schedule to start construction of the pipeline in spring 2010 and to start transporting gas in 2011,” Nord Stream managing director Matthias Warnig said in a statement.

The only permit still outstanding for the €7.4 billion ($10.6 billion) project is one of two required from Finland, the consortium said.

Once completed, the 750-mile (1,200-kilometer) pipeline is expected to carry 55 billion cubic meters of gas a year from the Russian port of Vyborg to the German port of Greifswald.

Russia’s Gazprom holds 51 percent of the joint venture. German energy companies E.ON Ruhrgas AG and Wintershall AG each hold 20 percent, while Dutch company Nederlandse Gasunie NV holds the remain.

Well, this is the result of the elite pillaging billions from Ukraine, investing nothing in Ukraine and then the current President showing his metaphorical a*se to Putin in a misguided notion that the door will be open from the EU and NATO and Ukraine can just walk in……with nobody in the EU noticing you didn’t pay your gas bills but would put 100% of the blame on Russia none-the-less.

Didn’t really work out that way though now did it.

As soon as this and South Stream are done Ukraine can forget any transit fees for Gas……..and as it is there is now only Yushni docks in Ukraine dealing in oil from Russia for export.

It seems both the EU and Russia cannot or do not trust the Ukrainian political elite to sort their sh*t out anytime soon…….and by the time they do it will be at the cost of the transit fees through the nation.

Nice one you useless bunch of tw*ts!

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