Russia’s Gazprom to start creating JV for Nord Stream-2 soon

MOSCOW, Jun 26 (PRIME) -- Russian gas giant Gazprom will soon start creating a joint venture with Western partners to build the Nord Stream-2 gas pipeline, CEO Alexei Miller said at a shareholder meeting Friday.

“In the near future, we will start creating a joint company for implementation of the project. We will use studies of Nord Stream AG. It is a company, which has built and operates the Nord Stream-1 pipeline. A successful work experience in the Baltic will help us optimize expenditures and construction terms. Both branches of the Nord Stream-2 pipeline will be launched by the end of 2019,” Miller said.

Earlier in June, Gazprom, Germany’s E.ON, Royal Dutch Shell, and Austria’s OMV signed a memorandum to build a gas pipeline from Russia to Germany through the Baltic Sea with a capacity of 55 billion cubic meters per year.

Gazprom expects that BASF/Wintershall will join the project soon, Miller also said.

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