Gazprom seals big gas deals in Europe despite Ukraine crisis

In spite of the Ukraine crisis and EU policy to reduce its energy dependence on Russia, European energy companies have struck a deal with Gazprom to double the capacity of the Nord Stream pipeline by 2019, Reuters reports. The pipeline delivers gas to Europe through the Baltic Sea, bypassing Ukraine. U.S. energy envoy Amos Hochstein said the Nord Stream agreement is more about politics than economics, and it risks letting Gazprom cut off Ukraine. Gazprom also agreed to an asset swap with German chemical company BASF that was previously called off because of the political climate.


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