UPDATE: Nord Stream-2 partners withdraw JV notification

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MOSCOW, Aug 12 (PRIME) -- Russian gas giant Gazprom and its partners in the Nord Stream-2 gas pipeline project have decided to withdraw their notification of plans to create a joint venture to implement the project sent earlier to Poland, Gazprom, Engie, OMV, Shell, Uniper, and Wintershall said in a joint press release on Friday.

Previously, the partners sent the notification of creation of the joint venture to the Polish antimonopoly regulator and expected its permission to buy stakes in the joint company, but Poland objected creation of the joint venture.

“All claimants believe the Nord Stream-2 project is important for the European energy system, and each of them will independently look for possibilities to contribute to the project. The decision to withdraw the notification will not affect Nord Stream 2 AG’s continuing the earlier planned construction of the Nord Stream-2 pipeline, including the schedule of the project,” the companies said.

The companies also submitted to the Polish antimonopoly watchdog their response to its objections.

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. Gazprom will hold 50% in the project, while E.ON, BASF, Royal Dutch Shell, and OMV will own 10% each, and Engie will get a 9% stake.

The companies’ decision to drop creation of the joint venture will not affect already announced and planned tenders on the project, a spokesperson for Nord Stream 2 AG told PRIME.

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