Salzgitter Sees Nord Stream Delays
by AFX News Limited
April 02, 2008
Salzgitter AG. sees political opposition to
the planned Nord Stream Baltic Sea gas pipeline causing delays of up to six
months, Financial Times Deutschland reported, citing the head of company's pipe
division, Wolfgang Eging.
"Then we will just produce for inventory," Eging told the newspaper.
"The political opposition from Scandinavia and Poland will dissolve soon."
Russia's OAO Gazprom owns a 51 percent stake in the consortium building the
pipeline, while Germany's BASF SE. and E.ON AG. each own 24.5 percent.
Gazprom has vowed to build the pipeline, which will supply Western Europe
with gas, below the Baltic Sea in order to reduce the number of transit
countries. This has met with sharp criticism in Poland and other Eastern
Salzgitter's Europipe unit was chosen to supply 75 percent of pipes needed
to construct the pipeline.
The company also hopes to win contracts related to the Nabucco pipeline
project that will deliver natural gas from the Caspian Sea region to Europe.
"We are very interested," Eging said.
"We are waiting to hear the technical specifications and expect a call for
tenders in 2010."
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Nord Stream Pipeline
Nord Stream AG
Vyborg, Russia to Greifswald, Germany Russian Federation