Nord Stream 2 Gas Pipeline is 70% Financed so Far

October 8, 2018

© Nord Stream 2 / Thomas Eugster
© 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)

Current News

Sonomatic Expands in Aberdeen

Sonomatic Expands in Aberdeen

Kleven Delivers Maersk Anchor Handler

Kleven Delivers Maersk Anchor Handler

Petrobras Will Pay to End Whale Park Dispute

Petrobras Will Pay to End Whale Park Dispute

Eni Quarterly Profit Jumps 55%

Eni Quarterly Profit Jumps 55%

Equinor Lines Up Floating Wind in S.Korea

Equinor Lines Up Floating Wind in S.Korea

Mexico Plans $3.6 Bln Relief for Pemex

Mexico Plans $3.6 Bln Relief for Pemex

The “Disruption” in AUV Trends

The “Disruption” in AUV Trends

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week