BERLIN, Sept 8: Russian energy giant Gazprom and German firms EON and BASF signed a deal on Thursday to build a five-billion-dollar pipeline linking Russia and Germany, at a ceremony attended by President Vladimir Putin and Chancellor Gerhard Schroeder.
The North European Gas Pipeline will allow the world’s largest gas reserves to be piped directly to the western European market. But its route has enraged Poland and Baltic countries that stand to lose out on lucrative fees because it bypasses their territory.
“This is truly a historic day,” Schroeder said. “I am grateful for this strategic cooperation between Germany and Russia.”
The five-billion-dollar agreement is a key plank in Schroeder’s efforts to lessen Germany’s dependence on oil — Russia already supplies 32 per cent of Germany’s energy requirements.—AFP
