CEO says Wintershall can finance alternative N Stream-2 route

ST. PETERSBURG, Oct 4 (PRIME) -- Wintershall is ready to provide additional financing for an alternative route of Russian gas pipeline Nord Stream-2 if Denmark does not allow to build in its waters, CEO Thilo Wieland told PRIME on Thursday.

“As financial investors, we support the project, we will absolutely support both alternative construction options,” Wieland said.

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom will implement the project together with Germany’s E.ON and BASF, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

Gazprom is the sole shareholder of the project, and the European partners undertook to finance 50% of the project, which is 950 million euros for each of the participants.

Wieland said that Wintershall had asked the Russian government for mineral extraction tax (MET) incentives for the Yuzhno-Russkoye deposit development in the Yamalo-Nenets Autonomous District.

The united Wintershall DEA company, to be established under an agreement signed by their parent holdings last week, will consider participating in new Russian projects and might cooperate with Russian oil producer Gazprom Neft, Wieland said.

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