Fluxys to acquire from WINGAS 19% stake in planned North European Gas Pipeline NEL

2010-08-27


Fluxys and WINGAS have concluded a Term Sheet with the intention for Fluxys to acquire from WINGAS a 19% stake in the North European Gas Pipeline NEL. The NEL link is one of the two pipelines planned in Germany for accommodating downstream flows from the Nord Stream pipeline which is going to bring additional volumes of Russian natural gas through the Baltic Sea to Europe.

 
Subject to obtaining all approvals required, the agreement between Fluxys and WINGAS will lead to a NEL ownership of WINGAS 51%, Gasunie 20%, Fluxys 19% and E.ON Ruhrgas 10%. The planned investments for the pipeline project are approximately at €1 billion.

The NEL pipeline will run from the Nord Stream landfall point in Lubmin near Greifswald to Rehden in Lower Saxony, stretching over 440 kilometers past Schwerin and Hamburg. It will connect Nord Stream with the European gas network, just as the OPAL natural gas pipeline does to the Czech Republic. Natural gas from the major reserves in Russia can thus be transported directly to Germany and other Member States of the European Union, in particular to Belgium, the Netherlands, France and the UK. Public consultations for the planned natural gas pipeline are already underway in Mecklenburg-Vorpommern and Lower Saxony.



Press contacts

Fluxys
Bérénice Crabs
Tel.: +32 2 282 72 30
Fax : +32 2 282 79 43
berenice.crabs@fluxys.com		 Wingas
Nicholas Neu
Tel.: +49 561 034 3301
Fax : +49 561 934 1321
presse@wingas.de



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