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Nord Stream-2 starts raising funds — Finance Director

The tender to lay pipes was made, says finance chief

© EPA/FILIP SINGER

LONDON, June 22. /TASS/. The Nord Stream-2 project company started the financing arrangement process to implement construction of the gas pipeline, Finance Director of the project Paul Corcoran told TASS on Wednesday.

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"The work is already started. We are engaging financial and legal advisers for the project," Corcoran said.

"The decision has not been taken yet," he said responding to the question regarding the contractor to lay pipes. "The tender has been made. We have six respondents to the tender and we are in the process of evaluating," Corcoran said.

The Nord Stream-2 project stipulates construction of two lines of the offshore gas pipeline with a total capacity of 55 bln cubic meters of gas a year from Russia to Germany under the Baltic Sea. The project is to be implemented by the special project vehicle New European Pipeline AG. The stakes of partners in SPV will be distributed as follows: Gazprom will hold 51%, while BASF/Wintershall, E.ON, OMV and Shell will own 10% each. Engie will have 9%.

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Oil & Gas Nord Stream

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