Advertisement

EU decision on Nord Stream holds no sway

BRUSSELS, July 11 (UPI) -- A majority decision by the European Parliament opposing the Baltic Nord Stream natural gas pipeline did not dissuade the pipeline consortium's ambitions.

The Nord Stream consortium said the decision will have no effect on the 745-mile natural gas pipeline that will deliver Russian natural resources from Russia through the Baltic Sea to Germany.

Advertisement

Europe made its decision in part because of a diluted resolution proposed by the center-right Polish Law and Justice Party, the Russian Kommersant newspaper said Friday.

Nord Stream spokeswoman Irina Vasileva told the newspaper the EU decision is only a suggestion and has no impact on the direction of the project.

Russian energy giant Gazprom holds a 51-percent stake in the Nord Stream consortium. The German BASF holds a 20-percent share and the Dutch Gasunie holds 9 percent.

Beyond the EU decision, the project faces permit obstacles from Estonia, Finland and Sweden, Baltic states that may be affected by the development.

Latest Headlines