If the situation on the UK market remains favorable, the project of laying the so-called Northern European gas pipeline will be implemented in a fairly short period of time, Gazprom Deputy CEO Yury Komarov reported at a briefing today. He claimed the UK to be a promising market for gas exports, as, according to Gazprom's estimates, by the end of 2010, the deficit of gas in the UK would reach 50bn cubic meters.
As reported earlier, the project envisages the gas pipeline to be laid on the Baltic Sea bed and to supply gas to Finland, Sweden, Denmark and the Kaliningrad region of Russia. At present, Gazprom is developing a feasibility study of the project. The project's cost is estimated at $5.7bn, while gas supplies are expected to start in 2007.