- Gazprom (OTCPK:OGZPY) tells Financial Times it will announce a financing package for the $11B Nord Stream 2 gas pipeline to Germany by the end of this month, as it seeks to resolve a series of political battles with European regulators.
- Gazprom in August was forced to abandon plans to split the cost of the pipeline under the Baltic Sea with the project’s European partners including Engie, OMV, Wintershall, Uniper and Royal Dutch Shell after Polish competition regulators objected, and the Russian company tells FT the European firms are still preparing to find a way to contribute to the pipeline’s construction.
- Gazprom is trying not to bear the full cost of the project, which would significantly increase the burden on the world’s largest natural gas producer.