Estonia makes advances to Nord Stream

Conferences

Estonian government will decide today on the sea survey to be held by Gazprom’s Nord Stream AG in offshore economic area of the country.

Acutely interested in the project, Germany stepped in to pressurize Tallinn to take the first positive decision in respect of North European Gas Pipeline. Otherwise, Nord Stream would run in Finland’s area with risks shared by all Baltic nations. Estonian Foreign Minister Urmas Paet will propose to cabinet today to sanction Gazprom’s Nord Stream AG to survey the Baltic Sea’s bed in offshore economic area of Estonia.

On May 31, Nord Stream AG approached Estonia and Denmark seeking the permission for the seabed survey needed to lay the pipeline. Finland recommended to turn the route in the Gulf of Finland to the south, via the economic area of Estonia, and it took two hours to agree on the new path in Denmark, while Estonia needed four months to consider it.

The deadline for Estonia’s response is September 30. The denial would mean laying the pipeline in the economic area of Finland, i.e. the risks would survive but Estonia would be just a casual observer. It has happened with Poland actually, which also opposed the project. But passing a positive decision won’t be easy for Estonia. So far, only Eesti Gaaz, where Gazprom holds the majority stake, and German E.ON have backed up the project, while Estonian policymakers and scientists closed ranks to challenge it, giving potential ecological catastrophe as top reason. (kommersant.com)

ADVERTISEMENT

IWG Opens New Regus Center in Biatorbágy Analysis

IWG Opens New Regus Center in Biatorbágy

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

MNB Grants License to Local iBanFirst Fintech Branch Fintech

MNB Grants License to Local iBanFirst Fintech Branch

Meet the Expat CEO of the Year Nominees Awards

Meet the Expat CEO of the Year Nominees

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.