Nord Stream Gains Phase II Financing

摘要

Nord Stream AG says construction of the Nord Stream Pipeline continues on track. The Nord Stream pipeline project involves two parallel pipelines approximately 1,220-km long that will link Russia and the European Union through the Baltic Sea, providing a transport capacity of some 27.5 bcm/y. Construction of the first gas pipe line was completed in April 2011 with plans to start gas transportation by year-end. Nord Stream AG, together with its shareholders in the consortium, OAO Gazprom, E.ON Ruhrgas AG, BASF SE/ Wintershall Holding GmbH, N.V Nederlandse Gasunie, and GDF SUEZ S.A. announced the successful signing of phase two financing of the pipeline project earlier this year. The project financing for phase two amounts to 2.5 billion euros.