MOSCOW, Nov 6, 2007 (Dow Jones Newswires)
The Nord Stream gas pipeline project between Russia and Germany has been delayed by six months, Interfaxnews agency reported Tuesday citing the project's technical director Sergei Serdukov.
Construction of the pipeline, which is led by Russia's OAO Gazprom (GAZP.RS), will now begin in June 2009 and the first gas will be delivered on Nov. 30 2010, two months later than initially planned, Serdukov told journalists.
He put the delays down to the process of getting approval for the project from countries in the Baltic.
State-controlled Gazprom owns a 51% stake in the Nord Stream project, which envisages construction of a 1,200-kilometer pipeline beneath the Baltic Sea to supply 55 billion cubic meters of Russian gas a year to Germany.
Copyright (c) 2007 Dow Jones & Company, Inc.
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