Russia To Build Nord Stream As Scheduled - Putin
by Xinhua News Agency
March 10, 2008
Russia will continue the
implementation of the Nord Stream project under the existing plans, President
Vladimir Putin said meeting visiting German Prime Minister Angela Merkel in
Moscow on Saturday.
"We are firmly determined to continue the joint construction of the Nord Stream
gas pipeline in accordance with plans and schedules," Putin was quoted by the
Itar-Tass news agency as saying.
"Our energy cooperation is not only bilateral and mutually advantageous but also
provides guarantees of reliable energy supplies to Europe as a whole," he said.
The Nord Stream trunk pipeline across the Baltic Sea will link Russia and the
European Union. There are no transit states along the pipeline's route, which
will reduce the cost of transportation and exclude political risks.
It will transport natural gas for enterprises and households. The new gas
pipeline will be critical for Europe's energy security.
Nord Stream links the Baltic coasts of Russia outside Vyborg and Germany outside
Greifswald. It will be about 1,200 kilometers long. The first stretch with a
capacity of 27.5 billion cubic meters of gas is expected to be commissioned in
When the second stretch is ready by 2012, the pipeline's capacity will grow to
55 billion cubic meters of gas.
The project is implemented by Nord Stream AG created in order to plan, build and
operate the sea gas pipeline. Russia's gas giant Gazprom has 51 percent in the
joint venture, Wintershall Holding 20 percent, E.ON Ruhrgas 20 percent, and N.V.
Nederlandse Gasunie 9 percent.
Copyright 2008 XINHUA NEWS AGENCY.
Nord Stream Pipeline
Nord Stream AG
Vyborg, Russia to Greifswald, Germany Russian Federation