"We planned to pay for 70 percent of project expenses with bank loans. This is still our goal," OMV’s Manfred Leitner said.
Nord Stream 2 AG, a venture of Russian’s Gazprom energy giant and its European partners, signed a deal on Monday with OMV, Engie, Royal Dutch Shell, Uniper and Wintershall where the five firms agreed to provide half of long-term financing, estimated at $10.3 billion.
The pipeline will bring some 55 billion cubic meters of natural gas from Russia to Germany across the Baltic Sea. The launch of the pipeline is planned for 2018.