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Gazprom to open Nord Stream-2 by 2020

Staff writer ▼ | June 29, 2015
The two parts of the new Nord Stream-2 gas pipeline will be operational by the end of 2019, said Gazprom CEO Aleksey Miller.
Aleksey Miller
Energy business   Gazprom CEO Aleksey Miller:
Gazprom expects Germany’s BASF subsidiary Wintershall to join the project in September.

"We will use the know-how Nord Stream accumulated during construction and operation of the Nord Stream-1 pipeline.

"The successful track record on the Baltic Sea will help us to optimize construction costs and timeframe. Both pipelines of the Nord Stream-2 project will be put into operation by 2019 year-end," Miller said Friday at the annual meeting of shareholders.

A joint company will be established in the near future, he added.

The Russian gas monopoly would retain a 51 percent stake in the project. Partners with Gazprom will each receive a 9-15 percent share.

The project's route is expected to follow the 1,224 kilometers of Nord Stream which opened in 2010. Nord Stream targets markets in Germany, France and the UK, and other EU countries.


 

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