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Gazprom considers Austria key partner for implementation of Nord Stream-2

December 14, 2016, 16:30 UTC+3

For Gazprom Austria is not only the market the company supplies gas to but it is a major distribution center

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VIENNA, December 14. /TASS/. Russian gas giant Gazprom considers Austria as one of the key partners in the implementation of the Nord Stream-2 gas pipeline, CEO of Gazprom Alexey Miller told a press conference in Vienna.

"Austria is indeed our very good old partner on the market. In the near future we will mark "a golden jubilee" with OMV. For almost 50 years, Gazprom has delivered about 200 billion cubic meters of gas to Austria and we, as Gazprom, consider Austria as the key target market for the new gas transportation projects. In particular, it concerns the Nord Stream-2 project. For us Austria is not only the market we supply gas to but it is a major distribution center," he said.

All participants of the Nord Stream-2 gas pipeline project have confirmed their participation, it will be implemented on the basis of debt financing, according to Miller.

"All the partners in the North Stream-2 project have confirmed their participation in it. Besides Gazprom these are five companies," he said.

The Nord Stream-2 natural gas pipeline is planned to be commissioned by 2019 year-end.

Miller said implementation of the Nord Stream-2 gas pipeline is going in compliance with the schedule.

"As for the timing of the Nord Stream-2 project, we are working strictly according to the schedule. Two lines of Nord Stream-2 will be put into operation before the end of 2019," he said.

According to him, currently the pipes are being supplied to the sites for concreting.

"Last week we summed up the results of the competition and signed an agreement for laying of pipes under the Baltic Sea, a binding agreement with respect to the first line and the option for laying the second line with the Allseas company," he said.

The Nord Stream-2 gas pipeline is set to run from the Russian coast along the Baltic Sea bed to the German shore. Each of the pipeline’s two stretches will have a capacity of 27.5 billion cubic meters. The new pipeline will double the capacity of the first stretch and will basically follow its route.

Capital expenditures on the project are estimated at 8 billion euros and its total cost will amount to 9.9 billion euros, taking into account project financing.

 

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