8 Oct 2018 10:17

Nord Stream 2 participants finance 70% of capex - Gazprom CEO

TOMSK. Oct 8 (Interfax) - The participants in the Nord Stream 2 project have now essentially paid for 70% of the capital expenditures on the gas pipeline, Gazprom CEO Alexei Miller said.

"All of our partners who are participating in the project are consistently meeting the obligations that they have. Essentially 70% of all capital expenditures needed for the implementation of the Nord Stream 2 project have been financed," Miller said on the Moscow.Kremlin.Putin show on TV channel Rossiya 1 on Sunday.

There are "legal issues that everyone is well aware of, but the main thing is that Nord Stream 2 is now already being built," Miller said.

The Nord Stream 2 pipeline will run more than 1,200 km across the Baltic Sea, connecting gas suppliers in Russia with consumers in Europe. It will have capacity to carry 55 billion cubic meters of as per year. The project is being implemented by Russia's Gazprom in an alliance with European companies Engie, Uniper, OMV, Shell and Wintershall.