E.ON Ruhrgas Participates in New European Gas Pipeline
E.ON Ruhrgas AG is participating in the joint venture to plan a new European gas pipeline in Scandinavia. This Skanled pipeline is to transport Norwegian gas to Norway, Sweden and Denmark.
With a 15 % stake, the German gas company is one of the largest partners in the European pipeline project, in which a total of 10 companies from Norway, Sweden, Denmark and Poland are involved. The investment volume for the pipeline is estimated at Euro 900 million. A final decision on construction of the pipeline is to be taken by the end of 2009. The pipeline is then expected to come into operation by 2012 at the latest.
"The E.ON Group is already active on the Swedish and Danish gas markets to a considerable extent. A pipeline which transports Norwegian gas direct to the Swedish market and at the same time creates a direct link to Denmark is therefore highly important for us," said Jochen Weise, member of the E.ON Ruhrgas Board of Management. "In addition, the Skanled project helps to further diversify gas supplies for Europe and thus makes an important contribution towards security of gas supply," Mr. Weise stated.
Approx. 7 billion cubic meters of gas are to be transported annually from Karsto in Norway to southeastern Norway, western Sweden and Jutland in Denmark via the Skanled pipeline. At present, a pre-engineering study is being carried out, with the Norwegian pipeline operator Gassco in charge.
- Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition (Jul 22)
- Premier Oil's Shares Remain Suspended amid Proposed E.ON Deal (Jan 14)
- Premier Oil to Acquire EON's UK North Sea Assets (Jan 13)