In spite of the decision on extending the sanctions, Russian giant Gazprom managed to reach an agreement with the European companies on increasing the capacity of Nord Stream. E.ON, Shell, and OMV agreed to take part in building stages 3 and 4 of the gas pipeline. However, taking into account the difficult geopolitical situation in the region, experts noted that the planned route may be changed, but the destination is still Germany. The foresight and business sense of the European partners enables them to find possibilities of cooperation during active economic sanctions.
Management of the western companies understands that gas transit through the Ukrainian Uzhgorod corridor will come to an end in 2019 and that a new pipeline is the only alternative. Experts agree that the signed agreement is another triumph of Gazprom. Even Shell, the largest oil and gas corporation, joined the new project despite the sanctions against Russia. The decision of Shell, OMV, and E.ON showed the importance of regular supply of the Russian gas to Europe. The capacity of the new stages is 55 billion cubic meters per year. The shares will remain the same as in the Nord Stream-1 project: Gazprom would own 51%; German Wintershall Holding GmbH and E.ON Ruhrgas, 15.5% each; and Dutch N. V. Nederlandse Gasunie and French GDF Suez, 9% each.
