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Gazprom assures financing of Nord Stream 2 will be secured

September 27, 2017, 18:34 UTC+3

The pipeline is set to run from the Russian coast along the Baltic Sea bed to the German shore

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ST. PETERSBURG, September 27. /TASS/. The Nord Stream 2 gas pipeline project will be provided with financing, Chairman of Gazprom Board of Directors Viktor Zubkov told reporters on Wednesday.

"Gazprom is a very stable company in financial aspect. Further to Europe, the Asia-Pacific Region also exists, where certain funds can be borrowed. Gazprom itself has sound profit and I think financing of the Nord Stream 2 is not a problem," Zubkov said.

Many European companies already transferred funds for this job and the main point is in conditions set by the European Commission, the top manager said. "The greater portion of the problem is that the European Commission and the European Union stopped setting any additional conditions to obstruct this project, which is of paramount necessity for Europe," Zubkov said.

The situation with the Nord Stream 2 project will be settled happily, Zubkov noted. "I believe the common sense will prevail in this regard and I think the situation with the Nord Stream [Nord Stream 2 project - TASS] should be resolved. Work is underway. I believe financing will be provided," he added.

The Nord Stream 2 pipeline is expected to come into service at the end of 2019. The 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 bln cubic meters. The new pipeline that is expected to connect the Russian resource base with European customers, will double the capacity of the first line and will basically follow its route.

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