Charles Kennedy: Mon, 22 June 2015
Russian energy giant Gazprom is building up a global portfolio with a western oil major.
Gazprom and Royal Dutch Shell are teaming up on several energy projects that will benefit both. The two energy companies have agreed to build an expansion of the Nord Stream Pipeline, a major natural gas pipeline that travels beneath the Baltic Sea. The pipeline is a priority for Russia, which will allow it to expand its natural gas exports to Europe while also cutting out Ukraine from the mix.
Gazprom, Shell, along with E.ON and OMV – two gas importers in Western Europe – have agreed to build the $11 billion expansion of Nord Stream.
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The US government has begun its full review of an application by Royal Dutch Shell to resume offshore drilling for oil and gas in the Arctic Ocean off the Alaskan coast.
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