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WSJ: Gazprom pushes ahead with Nord Stream 2 pipeline to Germany

  • Russia's Gazprom (OTCPK:OGZPY) is pushing ahead with the Nord Stream 2 natural gas pipeline project to Germany, calling on bids for the project, WSJ reports.
  • The two pipelines would bring a combined capacity of 55B cm of gas, boost Germany’s importance as a transit hub for Russian gas into Europe, and allow for a bypass of Ukraine; Germany supports the pipelines, but the U.S. and some European Union countries are strongly opposed, seeing a Russian plan to deprive Ukraine of gas-transit fees and limit eastern European access to gas.
  • Swiss-headquartered Allseas and Italy's Saipem (OTCPK:SAPMY) are expected to bid on the project, and shallow water specialists such as France's Technip (TKPPY) likely would be involved in some capacity, according to the report.

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OGZPY--
Public Joint Stock Company Gazprom