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Gazprom to invest $1.9 bln into Nord Stream-2 gas pipeline this year

January 19, 2017, 21:58 UTC+3 MOSCOW

Investments into the Turkish Stream project will total $702.7 mln in 2017

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MOSCOW, January 19. /TASS/. Gazprom’s investments in gas midstream will grow by 6.8% year-on-year to 911.2 bln rubles ($15.3 bln), including the Nord Stream-2 gas pipeline project, the Russian gas holding said on Thursday.

The investment program incorporates the Nord Stream-2 gas pipeline project with investments totaling 110.7 bln rubles ($1.9 bln). The pipeline was not present in the last-year program. The Nord Stream-2 gas pipeline is intended to be commissioned at the turn of 2019.

Investments into the Turkish Stream project will total 42 bln rubles ($702.7 mln) in 2017.

Investments into the Power of Siberia gas pipeline will be 158.8 bln rubles ($2.7 bln rubles) this year.

The program also comprises a liquefied natural gas production, storage and shipping facility in Portovaya compressor station area near the Baltic Sea with investments totaling 46.4 bln rubles ($776.2 mln).

It was reported earlier Gazprom approved the investment program for 2017 last December. Financing of the corporate investment program will amount to 910.7 bln rubles ($15.2 bln) in 2017.

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