Gazprom, BASF, E.ON, ENGIE, OMV and Shell sign deal on Nord Stream 2 projectStaff writer ▼ | September 5, 2015
Gazprom, BASF SE, E.ON SE, ENGIE, Rainer Seele, OMV and Royal Dutch Shell signed an agreement on implementation of the Nord Stream 2 pipeline project.
Energy business The largest companies together in the pipeline project
The project will be developed by the new project company New European Pipeline AG. According to the document, Gazprom will own a 51 percent share in the project company. E.ON, Shell, OMV and BASF/Wintershall will each own ten percent and ENGIE will hold nine percent.
The Nord Stream 2 project envisages the construction of two offshore pipelines with the aggregate annual capacity of 55 billion cubic meters of gas to be constructed from Russia to Germany through the Baltic Sea.
The project will build on the positive experience of Nord Stream in implementing safe and reliable infrastructure. ■