Oslo-Yara International announced on March 17 that it was about to drop out of a project to build the Skanled gas pipeline, which would bring North Sea gas to industrial sites in Scandinavia. StatoilHydro is due to supply gas to Skanled. Yara said it was backing out because the gas prices offered are not competitive, claiming it can buy gas in Europe and take it by ship to Yara’s facilities in southern Norway for less money. According to wire reports, Skanled has been struggling to find enough gas buyers to justify building the $1.5 billion pipeline.
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