Gazprom, Allseas sign letter of intent on Nord Sream-2

MOSCOW, Dec 9 (PRIME) -- Nord Stream 2 AG, a 100% affiliate of Russian gas giant Gazprom, has signed a letter of intent with Swiss company Allseas to lay the deep-sea part of the Nord Stream-2 natural gas pipeline, Nord Stream 2 AG said in a statement on Friday.

“The letter of intent ensures that Allseas will undertake offshore pipelay works for the first line and also provides the option to book capacities from Allseas for the second line up to the end of the first quarter of 2017. Negotiations to finalize the contract will continue within this timeline. Other tenders including the near-shore pipelay tenders in Russia and Germany are ongoing,” the company said.

The Nord Stream-2 project envisages construction of two lines of a gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Currently, Gazprom holds 100% in the project’s company Nord Stream 2 AG, and the agreement envisaged Gazprom transferring 10% stakes in the company to Uniper, Wintershall, Shell, OMV, and Engie.

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