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Russia offers new proposal on gas pipelines to EU

12.21.2012  | 

The CEO said the document proposed that projects of mutual interest be exempt from EU rules -- which restrict the amount of gas transited by pipeline owners -- until investors see a return on their investment. Gazprom and its partners began construction of the South Stream pipeline this month.

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By JAMES MARSON

MOSCOW -- Russia has handed the European Commission a proposal to provide exemptions for Russian pipelines that enter the European Union from regulations restricting their use by Russian export monopoly OAO Gazprom, Interfax news agency cited Gazprom CEO Alexei Miller as saying in Brussels Friday.

Mr. Miller said the document proposed that projects of "mutual interest" be exempt from EU rules - which restrict the amount of gas transited by pipelines' owners - until investors see a return on their investment.

Gazprom and its partners began construction of the South Stream pipeline this month, which will transit gas to Southern Europe via the Black Sea from 2015.

Russia accounts for around one-quarter of the gas needs of the EU, its most lucrative market.

Mr. Miller also said Gazprom is seeking to gain full use of the OPAL pipeline, which connects Nord Stream to the main German gas grid, for the next six months, Interfax reported. Gazprom can currently only use 50% of its capacity.


Dow Jones Newswires



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