Nord Stream 2 shareholders accord struck

Russian Gazprom, the German companies E.ON and BASF/Wintershall, Royal Dutch Shell, the Austrian OMV and the French Engie (formerly GDF Suez), signed a shareholder agreement to implement the Nord Stream 2 project.

The project envisages the construction of additional gas transportation infrastructure to supply Russian natural gas to the EU market, the companies said in a statement.

Two offshore pipelines with the aggregate annual capacity of 55 billion cubic meters of gas will be constructed from Russia to Germany through the Baltic Sea.

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.

Gazprom’s head, Alexey Miller said the Nord Stream 2 will double the throughput of its gas supply route via the Baltic Sea.

Nord Stream 2 will be carried out based on the know-how and experience of Nord Stream in planning, construction and operation of the twin pipeline system through the Baltic Sea.

LNG World News Staff; Image: Wintershall