Russia to construct new gas pipeline to Germany, EU direct supplies to double

Gazprom is planning to construct two threads of a new gas pipeline with a capacity of 55 billion cubic meters per year. Shell, E.On and OMV have been invited to participate, said the company. This could double direct supplies of Russian gas to Europe.

The four companies have signed a memorandum of intent to create the gas transportation infrastructure to ensure direct supplies of Russia gas to European consumers.

"The memorandum demonstrates the intention of the sides to construct the two threads of the pipeline from the coast of Russia through the Baltic Sea to the coast of Germany. The capacity of the new pipeline will be 55 billion cubic meters annually," Gazprom said in a statement .... http://rt.com/business