Engie invests 500 mln euros in Nord Stream-2, to give rest soon

BARCELONA, Sep 19 (PRIME) -- France’s Engie has already provided around 500 million euros of financing to Nord Stream 2 AG for construction of Russia-led Nord Stream-2 gas pipeline and is ready to give the remaining half, Pierre Chareyre, executive vice president of Engie, told PRIME on Wednesday.

“We have provided slightly less than 500 million euros,” Chareyre said, adding the company was ready to give another 500 million euros for the project.

He said Engie was sure that the pipeline project will be implemented regardless of possible U.S. sanctions.

“We think that the Nord Stream-2 is important for ensuring security of Europe. This is our policy to raise the number of gas sources on the European market, both from Russia and other countries. That’s why we decided to support the Nord Stream-2,” Chareyre said.

“The Nord Stream-2 is being implemented on schedule, almost all permits (for construction), except one, have been received,” he said.

President Donald Trump said late Tuesday that the U.S. does not plan to introduce sanctions against the Nord Stream-2 project.

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 Engie.

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