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Nord Stream 2 Gas Pipeline is 70% Financed so Far

By  AOG Staff Monday, 08 October 2018 05:22
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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 / Thomas Eugster
© Nord Stream 2 / Thomas Eugster

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)

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