Gazprom, Shell Building New Gas Pipeline to Germany

Energy giants Gazprom and Shell, along with E.ON and OMV, signed a memorandum Thursday to construct a third technical line for a LNG plant on Sakhalin Island on Russia’s Pacific Coast. Under the agreement, the companies would build a new route under the Baltic Sea from Russia with a capacity of 55 billion cubic meters a year. No timeline on the project was announced.