Gazprom Expects to Receive Project Financing for Nord Stream-2 in 2017

© Sputnik / Igor Zarembo / Go to the mediabankConstruction of Nord Stream pipeline
Construction of Nord Stream pipeline - Sputnik International
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Russian energy giant Gazprom expects to receive project financing for the Nord Stream-2 gas pipeline project in 2017, the company’s deputy head said.

PERTH (Sputnik) — The Nord Stream-2 project, which will follow 86-percent of the original Nord Stream route, is expected to provide up to 55 billion cubic meters of direct gas supplies annually to European customers.

"In 2017, as soon as all the necessary permits [for the construction of the pipeline sea segment] are obtained, the issue of project financing must be resolved," Alexander Medvedev told RIA Novosti in an interview.

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Medvedev added that the project would cost $9.9 billion.

"Naturally, we seek that our major projects were realized on the basis of project financing, when 70 percent are borrowed funds and the remaining 30 percent are shareholders' equity," he noted.

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