5 May 2011

Nord Stream Lays Last Pipe of First Gas Pipeline Through the Baltic Sea

Nord Stream AG is pleased to announce 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.

“Europe will soon have the security of the privately-financed, 7.4 billion euros Nord Stream project providing a fixed link between the European gas grid and some of the world’s largest gas reserves in Russia for at least 50 years,” said Nord Stream’s Managing Director Matthias Warnig. “At a time when recent world events have led to increased concern about nuclear energy and energy imports from North Africa, our major new infrastructure project takes on more importance for both Europe and Russia,” he added.

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. 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.

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