Nord Stream II project: shareholders and additional pipelines

The Nord Stream II project envisages two additional pipelines from Russia to the EU, based on the know-how and successful experience of Nord Stream.

PJSC Gazprom, the German companies E.ON SE and BASF SE/Wintershall Holding GmbH, the Anglo-Dutch Royal Dutch Shell plc, the Austrian OMV AG and the French Engie S.A. (formerly GDF SUEZ S.A.), signed a shareholder agreement to implement the Nord Stream II project for the construction of additional gas transportation infrastructure to supply Russian natural gas to the EU market. Nord Stream II will be carried out based on the know-how and successful experience of Nord Stream in planning, construction and operation of the twin pipeline system through the Baltic Sea.

Nord Stream AG welcomes this decision to enhance the security of supply of gas to the EU with the construction of additional natural gas transport capacities. This is a positive outcome of the study carried out by Nord Stream AG into the feasibility of extending the infrastructure and it follows on from its proven track record of implementing the Nord Stream pipeline. Nord Stream demonstrated that the construction and operation of natural gas pipelines through the Baltic Sea could be compatible with the challenging environment of the Baltic Sea.

Nord Stream AG welcomes the intention of the Nord Stream II consortium to operate under the same high standards with regard to technology, environment, safety and corporate governance.

The Nord Stream II project will be developed by a new project company, New European Pipeline AG established in Zug, Switzerland, which will continue with the preparatory and planning activities initiated by Nord Stream AG.

Edited from various sources by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/04092015/nord-stream-ii-project-shareholders-and-additional-pipelines/