Nord Stream Lays Last Pipe of First Gas Pipeline Through the Baltic SeaGroningen | press release
Nord Stream has announced that all three sections of its first 1,224 kilometre gas pipeline through the Baltic Sea have now been laid and will be joined together underwater off the coast of Finland and Sweden in the summer. The new pipeline system will start transporting natural gas from Russia directly to the European Union on schedule in the last quarter of 2011. Construction of the second of the twin pipelines is scheduled for completion in 2012.
When both lines are completed in late 2012, Nord Stream will have the capacity to transport 55 billion cubic metres (bcm) of gas per year from Russia to Europe, enough to supply 26 million homes.
Gasunie is one of the shareholders (9 percent) in Nord Stream AG, an international joint venture established for the planning, construction and operation of the new offshore gas pipeline through the Baltic Sea. Russian OAO Gazprom holds a 51 percent stake in the joint venture. The German companies BASF SE/Wintershall Holding GmbH and E.ON Ruhrgas AG hold 15.5 percent each, and the French energy company GDF SUEZ S.A. holds a 9 percent stake.
For the Nord Stream press release please click here.