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Gazprom's Nord Stream pipeline submits environmental data
OAO Gazprom (GSPBEX.RS)-controlled Nord Stream AG submitted environmental data to countries affected by its planned pipeline connecting Russia and Germany under the Baltic Sea, the company said in a statement Tuesday. The submission of the document is the first step in an environmental impact assessment, or EIA, that will determine whether the 1200 kilometer pipeline can proceed as planned. The pipe, which will connect Vyborg in Russia with Greifswald in Germany, passes through the territorial waters of Denmark, Finland, Germany, Russia and Sweden. All five countries will be involved in the EIA, which is scheduled to finish in July 2007.
The pipeline may eventually be fed by the massive undeveloped Shtokman gas field in Russia's Barents Sea. The field holds 3.8 trillion cubic meters, although a pipeline to the field is only likely to be completed in, Gazprom said last month.
Nord Stream is a joint venture of Gazprom, which holds a 51% stake, and BASF AG (BF) and E.ON AG (EON), which hold 24.5% each. The company is headed by former German chancellor Gerhard Schroeder.
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