The decision comes amid declining domestic gas production in Europe and increasing gas demand globally.
The potential agreement with E.on, Shell and OMV entails the development of two additional gas pipelines, with an annual capacity of 55 billion cubic meters, from the Russian coast to the German coast through the Baltic Sea.
Gazprom management committee chairman Alexey Miller said: "Upon commissioning of the Nord Stream gas pipeline, Gazprom has been looking into the possibility of boosting the capacity of this route."
Gazprom is seeking alternative routes for transportation of gas to European markets, by avoiding Ukraine.
The four partners plan to establish a joint project company in future.
"Extra gas transmission facilities along the shortest route connecting gas fields in Russia’s north to European markets will provide for higher security and reliability of supplies under new contracts," Miller added.
OMV executive board member Manfred Leitner said: "It is an important step towards higher security of gas supplies to Central Europe, and it will enhance the role of Baumgarten in Austria as a gas hub."
The 1,220km-long Nord Stream offshore pipeline project already operates two pipelines with combined annual capacity of 55 billion cubic meters (bcm).
Gazprom has a 51% share in the existing pipelines, with E.on Ruhrgas and Wintershall holding 15.5% each and Gasunie and Gdf Suez owning 9% each.
The Russian giant has also signed a non-binding memorandum of understanding with OMV for a possible participation of the latter in the development of Areas IV and V of the Achimov formation of the Urengoy oil, gas and condensate field in Russia.
Separately, Gazprom has signed a deal with Shell to lay a third line at the Sakhalin-2 LNG project, expanding the plant’s capacity by five million tonnes to 15 million tonnes.
Image: Gazprom , E.on, Shell and OMV agree to construct two more lines in Nord Stream project. Photo: courtesy of Gazprom.
