Gassco today entered into an agreement with 14 Norwegian, Swedish and Danish industry and energy companies. The agreement was presented to the Norwegian Minister of Petroleum and Energy, Mr. Odd Roger Enoksen.

-This is a promising project which may have a possible influence on industrial activity inEastern Norwayif it becomes a reality. I am impressed by the work done by Gassco and the industry. Their work will form the basis for the continuation of this project, Minister Enoksen said.

However, the minister emphasises that major efforts are still needed before a decision to build the pipeline can be made. The companies have not committed themselves to fully financing the project. 7 companies have agreed to an ownership of a total of 70 per cent of the pipeline, while 9 companies have committed to pay for the right of using the transport system. Minister Enoksen says the government will discuss how the state can contribute to realizing the project.

Originally planned as a pipeline to Eastern Norway, it has now developed into incorporating landfalls in Sweden and Denmark. This could enable deliveries of Norwegian gas to Sweden and Denmark .

-I will shortly have meetings with my Scandinavian colleagues to discuss the gas pipeline project, says Minister Enoksen.

Decisions concerning investments will be made in 2009 with a possible start-up in 2012.

Big interest in Nordic gas plans (link to Gassco)