Gazprom, E.ON sign agreement

Pipeline & Gas Journal, August, 2004

Gazprom has signed a cooperation agreement with German utilities giant E.ON to access the latter's European networks in return for E.ON tapping Gazprom's South-Russkoye and other gas fields. The companies will decide on the actual list of projects shortly, however, it will include the formation of a consortium to build the $5.7 billion North-European gas pipeline (from Vyborg to the German coast via the Baltic Sea, including a spur to the UK).

The main source of gas will be the South-Russkoye gas field, holding estimated reserves of 600 bcm.