22:43 GMT +321 October 2018
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    A man looks into a tube representing a natural gas pipeline at the booth of Nord Stream at the Hanover industrial fair in Hanover, Germany (File)

    German Wintershall Provided About $400 Mln for Nord Stream 2 in 2017 - Report

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    MOSCOW (Sputnik) - German company Wintershall has provided 324 million euros ($399.9 million) for the Nord Stream 2 gas pipeline project between Russia and Germany bypassing Ukraine, the company said in a report.

    "Wintershall is contributing to the financing of the new Nord Stream 2 project as a co-creditor… Wintershall will provide up to €950 million. As of December 31, 2017, €324 million of this amount had already been paid out," the report read.

    Nord Stream 2 is a joint venture of Russia’s Gazprom with France's Engie, Austria’s OMV AG, UK-Dutch Royal Dutch Shell, and Germany's Uniper and Wintershall. It aims to deliver 55 billion cubic meters of Russian natural gas a year to the European Union across the Baltic Sea to Germany.

    READ MORE: Italian Intesa Sanpaolo Ready to Finance Nord Stream 2, If No Sanctions Imposed

    The pipeline project has been welcomed by some countries in Europe and opposed by some others, including Ukraine and Poland, while the United States has also expressed its opposition. According to Russia's side, the US stance is connected with their ambitious plans for selling its LNG to Europe.

    Wintershall Holding GmbH, a wholly owned subsidiary of German chemical company BASF, is involved in several joint ventures in Russia and cooperates with the country's energy giant Gazprom.

    Related:

    Nord Stream 2 to Start Attracting Project Financing in 'Couple of Months' - CFO
    Putin Believes Nord Stream 2 Project to Be Implemented, Despite EU Opposition
    Why Poland's Baltic Pipe is No Alternative to Nord Stream 2
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    Nord Stream 2, Wintershall, Germany
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