Nord Stream 2 Gas Pipeline is 70% Financed so Far

Monday, October 8, 2018
© Nord Stream 2 / Thomas Eugster

Seventy percent of funds needed to finance the Nord Stream 2 underwater gas pipeline from Russia to Germany have been raised, TASS news agency quoted the head of Russian gas giant Gazprom, Alexei Miller, as saying on Sunday.

Nord Stream 2, which will double the capacity from the existing Nord Stream 1 pipeline from a current 55 billion cubic metres of gas a year, is owned by Gazprom, which is taking on half of the planned costs of 9.5 billion euros ($11 billion).

The rest is divided between five European energy companies - Germany's Uniper and Wintershall, Anglo- Dutch group Royal Dutch Shell, France's Engie and Austria's OMV.


($1 = 0.8679 euros)

(Reporting by Vladimir Soldatkin; Editing by Susan Fenton)

Categories: Finance Underwater Engineering Gas Europe Pipelines

Related Stories

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

Lautec Gets Vessel Tracking Contract at EnBW’s Offshore Wind Farms

Lautec Gets Vessel Tracking Contract at EnBW’s Offshore Wind Farms

GHD Tackles Offshore Wind Noise Impacts with New Modelling Kit

GHD Tackles Offshore Wind Noise Impacts with New Modelling Kit

Current News

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

Brava Energia Inks $65M Deal with PetroReconcavo for Natural Gas Assets

Record Offshore Wind Auction Required for UK to Meet Targets

First French Floating Wind Farm Fully Commissioned

Subscribe for OE Digital E‑News

Offshore Engineer Magazine