The Norwegian government’s oilfield entity Petoro will take a 30 percent stake in and add much needed economic clout to a proposed gas pipeline that’ll sweep southeast from Norway’s oilfields to Sweden, Denmark and some say Poland.

Often called Estled, players in the Skanled project have been accused in some quarters of blocking the Russo-German Baltic gas pipeline Nord Stream to advance the demand-side economics of the project.

In Norway, major players had balked at investments seen helping only a few industrial interests in the south of the country.

“The change in ownership will strengthen the project and contribute to greater predictability, although demanding challenges remain,” said Thor Otto Lohne, Gassco vice president for development.

Petoro will take on the transferred stakes of utilities owned by southern Norwegian municipalities.

Pipeline operator Gassco — increasingly a regional voice with a new role supervising Russian gas shipments through Ukraine — said the government’s direct financial interest will at first be 25 percent.

A study phase is underway ahead of a final investment decision next autumn. Delays in the past have brought political and financial “jitters” said to be solved by the Petoro stake.

A plan for “installation and operation” will be submitted to Norwegian officialdom by May 2009.

Tags: Gassco, Petoro