02:11 GMT08 August 2020
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    Gazprom Deputy Chairman Alexander Medvedev said that Russian energy giant Gazprom still plans on putting the Nord Stream-2 gas pipeline on line by the end of 2019.

    MOSCOW (Sputnik) Russian energy giant Gazprom plans to put the Nord Stream-2 gas pipeline on line by the end of 2019, Gazprom Deputy Chairman Alexander Medvedev said Monday.

    “In regard to Nord Stream, all of the agreements between the stockholders see its launch at the end of 2019 and the business plan that needs to be approved in January of next year also shows the realization of the project in that timeframe,” Medvedev said.

    In June, Gazprom announced plans to build two additional branches of the Nord Stream gas pipeline from Russia to Germany in a joint project with E.ON, Shell and OMV, with an estimated cost of 9.9 billion euro (over $11 billion).

    Last week, the Russian energy company signed a shareholder agreement on the pipeline extension with international energy companies BASF, E.ON, Engie, OMV and Shell.

    The Nord Stream-2 project, which plans to use the original Nord Stream pipeline for 86-percent of the route before branching off, could provide up to 55 billion cubic meters of direct gas supplies from the Russian shores through the Baltic Sea to the coast of Germany.

     

    Related:

    Nord Stream-2 Eyes Expansion in Near Future, French Engie Next in Line
    Kremlin Denies Nord Stream-2 Deal May Be Signed at Eastern Economic Forum
    Gazprom to Confirm Business Plan for Nord Stream-2 in January
    Tags:
    Nord Stream-2, Gazprom, Alexander Medvedev, Russia
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