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Shell says fundamental factors for construction of Nord Stream-2 are good

March 17, 2016, 12:40 UTC+3 MOSCOW

The best variant for Europe is to have as many gas suppliers as possible

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MOSCOW, March 17./TASS/. Fundamental factors for the construction of the Nord Stream-2 pipeline are good, Douglas Buckley, vice president of Shell said on the sidelines of the LNG 2016 Congress.

"We are commercial company and we look for commercial opportunity. The fundamentals are good for projects such as Nord Stream expansion," he said.

Buckley added that the best variant for Europe is to have as many gas suppliers as possible.

Nord Stream 2 implies construction of 2 lines of the pipeline with the total capacity of 55 bln cubic meters from Russia to Germany across the Baltic Sea. The route and the entry point to the German gas transport system in Greifswald are intended to be the same as for the first Nord Stream gas pipeline launched in 2011. The project will be implemented by the New European Pipeline AG. In this company, Gazprom will hold 51% while German E.ON and BASF/Wintershall, British-Dutch Shell, Austrian OMV will hold 10% each, France’s ENGIE will own 9%.

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