Cookie Consent by Free Privacy Policy website Nord Stream 2 AG and European energy companies sign financing agreements.
april 26, 2017 - Gazprom

Nord Stream 2 AG and European energy companies sign financing agreements.

The Nord Stream 2 project, being pursued by Gazprom, has taken today another important step towards its implementation, responding to the need of the European Union for additional gas imports and thereby improving security of supplies to Europe.

Nord Stream 2 AG signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall.

These five European #energy companies have committed to provide long-term financing for 50 % of the total cost of the project, which is currently estimated to be €9.5 billion. Each European company will fund up to €950 million. #gazprom is and will remain the sole shareholder of the project company, Nord Stream 2 AG.

The financial commitment by the European companies underscores the Nord Stream 2 project's strategic importance for the European gas market, contributing to competitiveness as well as medium and long-term #energy security especially against the background of expected declining European production.

The 1,220-kilometer Nord Stream 2 gas pipeline, with a total capacity of 55 billion cubic meters a year, will provide a direct link between reliable Russian gas reserves and European gas consumers from the coast of Russia via the Baltic Sea to Greifswald, Germany. Construction work will begin in 2018 and will be completed by the end of 2019.

Related news

july 26, 2021
january 27, 2021
january 13, 2020

“We have familiarized ourselves with the statement of Yury Vitrenko, CEO of Naftogaz of Ukraine. We would like to point out that n...

A working meeting took place between Alexey Miller, Chairman of the #gazprom Management Committee, and #dmitrypumpyansky, Chairman...

Gas supplies via TurkStream will help strengthen #energy security in Turkey and Europe. A grand opening ceremony for the TurkStrea...

You might be interested in

june 20, 2019
june 12, 2019
june 12, 2019

Gazprom and Uniper review current issues of cooperationGazprom and OMV enhancing sci-tech cooperationGazprom saves RUB 12 billion ...

Alexey Miller and Vietnamese Politburo Member Nguyen Van Binh discuss further bilateral cooperationGas processing and chemical clu...

Alexey Miller and Bosnia and Herzegovina’s Presidency Chairman Milorad Dodik review prospects for expanding cooperationAlexey Mill...