BP in Nordstream talks to extend gas pipeline to UK

BP logo Any potential deal will take many months to negotiate, BP said

Related Stories

BP has held preliminary talks with the Russian government and stakeholders in the Nordstream pipeline about extending the line to deliver gas to the UK.

The pipeline currently runs under the Baltic Sea, delivering Russia's huge reserves of gas into Germany.

BP said any potential extension to the pipeline was unlikely to be agreed before next summer.

As North Sea production falls away, the UK has begun to import more gas from overseas, mainly from Norway and Qatar.

Extending the Nordstream pipeline would be seen as another potential source of energy, which is needed to compensate for a shortfall in supply resulting from the closure of coal and nuclear power plants in the UK over the next two decades.

Last month, BP agreed to sell its 50% stake in TNK-BP to Rosneft for $17.1bn (£10.1bn) in cash and a 12.8% stake in the Russian oil group.

The deal has freed BP up to pursue other interests in the region.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories


Features & Analysis

Elsewhere on the BBC

  • MouseEscape the rat race

    Burnt out? Meet the workers who took more than a vacation - and changed their lives


  • HoverboardClick Watch

    Testing the hoverboard's magnetic levitation - but will it ever replace the bicycle?

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.