MOSCOW, October 12 (RIA Novosti) - WINGAS, a Gazprom-BASF joint venture, and Gazexport, the Russian oil giant's export trader, have drawn up the main conditions for natural gas supplies through the North European gas pipeline (NEG) Wednesday.
"WINGAS will additionally receive 9 billion cubic meters of natural gas annually to supply German and other Western European customers for 25 years from the pipeline's launch in 2010," the companies said in a joint press release.
The agreement on NEG, a major Russian investment project in Germany, was signed September 8 by Gazprom and the German companies E.ON AG and BASF. According to the agreement, the parties intend to form the North European Gas Pipeline Company, in which Gazprom will own a 51% majority stake, and BASF and E.ON AG will each have a 24.5% stake.
The pipeline will link Russia and Germany via the Baltic Sea. The total cost of the project is estimated at 4 billion euros.
