Austria’s OMV invests 113 mln euro in Nord Stream 2 project in 2019
The Nord Stream 2 gas pipeline is designed to connect the Russian resource base with European customers
MOSCOW, February 6. /TASS/. Austria’s OMV company, one of Gazprom’s five European partners in the Nord Stream 2 gas pipeline project, invested 113 mln euros in the project in 2019, the company said in a report.
"Cash flow from investing activities in 2019 included a cash outflow of EUR (113) mln related to the financing agreements for the Nord Stream 2 pipeline project," the report reads.
According to OMV, 25 mln euro were invested in the project in the fourth quarter of 2019.
Nord Stream 2 project
The Nord Stream 2 gas pipeline, set to run from the Russian coast along the Baltic Sea bed to the German shore, is designed to connect the Russian resource base with European customers. Gazprom’s European partners in the project include Austria’s OMV, Germany’s Uniper and Wintershall, France’s Engie and British-Dutch Royal Dutch Shell.
In late December, US President Donald Trump signed the National Defense Act of 2020, which particularly includes restrictions against the Nord Stream 2 and the TurkStream pipelines. As a result, Switzerland’s Allseas company suspended pipe-laying for North Stream 2.
However, Russia is confident that it will succeed in completing the construction of the pipeline on its own. President Vladimir Putin said that the project’s completion would be delayed by several months but at the same time, he was hopeful that construction work would be over by the end of 2020.