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Nord Stream 2 participants to continue project funding despite US sanctions — Wintershall

November 14, 15:38 UTC+3

The Nord Stream 2 pipeline is expected to come into service at the end of 2019

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ABU DHABI, November 14. /TASS/. European partners of Russian gas holding Gazprom studied clarifications on new US sanctions against the Nord Stream 2 gas pipeline project and will continue its financing, said Mario Mehren, Chief Executive Officer of Wintershall, one of project participants, on Tuesday on the sidelines of the ADIPEC Conference.

"We have seen obviously the clarifications that have been issued by the US government. First of all, I think these clarifications clearly demonstrate that we will continue with our support for the project. We are financing this project," Mehren said.

The next money tranche will be transferred to the Nord Stream 2 project vehicle as soon as it makes a request, the top manager said. "When we receive a cash call, we will pay it," Mehren said. The project company does not have problems with cash sufficiency now in view of high financial discipline, 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 lines 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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