Nuclear may not be dead but it seems gas in the European union is only just firing up , with ex German leader Gerhard Schroader on the board of Russian firm Gazprom, with the Nord Stream project
As per link http://www.gazprom.com/press/news/2010/april/article97230/
"Stakes in Nord Stream AG are currently distributed as follows: Gazprom holds 51%, Wintershall Holding and E.ON Ruhrgas hold 20% each, and Gasunie holds 9 per cent.
On March 1, 2010 Gazprom and GDF SUEZ signed a Memorandum on additional supplies of Russian natural gas and on the entry of GDF SUEZ into the Nord Stream project. According to the document the French partners will obtain a share of 9 per cent in the capital of Nord Stream AG."
" The Nord Stream project is being implemented by Nord Stream AG, the joint venture set up for planning, construction and subsequent operation of the offshore gas pipeline. Stakes in Nord Stream AG are currently distributed as follows: Gazprom holds 51 per cent, Wintershall Holding and E.ON Ruhrgas – 15.5 per cent each, Gasunie and GDF Suez – 9 per cent each.
On September 3, 2011 the onshore and the offshore sections of the Nord Stream gas pipeline were connected which made it possible to start feeding gas into its offshore section.
The Portovaya compressor station is a unique facility in the global gas industry. Its total capacity makes up 366 MW, working pressure – 220 bar, transmission distance – over 1,200 kilometers. Gazprom is using novel equipment and cutting-edge technologies for the compressor station construction."
All good news for CFU long term in my opinion.
CFU Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
