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Gazprom revives Nord Stream boost

Three European companies will back the doubling of the Nord Stream gas line

Russian gas monopoly Gazprom has found three major European companies to back the doubling of the Nord Stream gas line, signing a memorandum of understanding at the St Petersburg International Economic Forum on 18 June.  They are planning to launch soon a project company which will be able to draw extensively on the experience of Nord Stream AG, operator of the first two lines. The partners to the MoU are German utility E.ON - to be rebranded Uniper from early 2016 and a shareholder in Nord Stream; Anglo-Dutch Shell; and Austrian OMV. The new capacity will bring the line from 55bn cubic metres/year to 110b cm/y, if the MoU progresses beyond the front-end engineering phase. At the moment the

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