E.On, Gazprom Sign Pact on Construction of Nord Stream Power Station

                                                                                         

Germany's E.ON and Russia's Gazprom (RTS: GAZP) signed a memorandum of mutual understanding in Dusseldorf on Friday that envisions cooperation between the two companies in the construction and management of a gas turbine power station in Germany, the companies said in a statement.
The new facility will be built near the future Nord Stream gas pipeline's entrance point into Germany and will use the fuel supplies by the pipeline. The power station, which will have capacity of 1,200 megawatts, could start operating in 2011. A final investment decision on the project will be made in 2009. E.ON and Gazprom are also cooperating in the construction of Nord Stream. The two companies will set up a joint venture in Germany on an equal basis to carry out the project. "The Gazprom Group will take part in all phases of the project's price chain - from gas supplies to the sale of generated electricity," the statement says.

About the author:
Velimir Lackovic runs internet portal "Energetika" ( http://www.energetika.co.yu )
dedicated to renewable energy sources,oil gas and energy efficiency. Velimir has
completed gratuadte studies in power systems engineering and
has industry experiance of over 20 years in this field.

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