First Sections of North Stream 2 To Be Ready in November

BGNES

The first sections of the gas pipeline North Stream 2 from Russia to Europe will be welded and turned over in November 2016, stated the Communications Director of the company managing the project Ulrich Lissek, cited by RIA agency.

"At the end of the year, an agreement will be signed for the laying of the two sections. The welding of the sections has begun and the first ones will be turned over as early as November," stated Lissek.

North Stream 2 envisages the construction of two gas pipelines on the bottom of the Baltic Sea with a total capacity of 55 billion cubic metres which will connect Russia's coast with Germany.

The new pipelines will be laid parallel to the already functioning gas pipeline North stream.

Capital expenditures on the project are estimated at EUR 8 B but, if loans are included, these could reach EUR 9.9 B.

 

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