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    Nord Stream 2 AG Built 31 Miles of Gas Pipeline's Offshore Section - OMV CEO

    © Photo: Nord Stream 2 / Wolfram Scheible
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    ST. PETERSBURG (Sputnik) - Nord Stream 2 AG, the operator of Nord Stream 2 gas pipeline project, has built about 50 kilometers (31 miles) of the pipeline's offshore section in the waters of Finland and Germany, CEO of Austria's OMV Rainer Seele told reporters on Thursday.

    Seele noted that Denmark, the only country that had not yet issued an approval for the construction of Nord Stream 2, was expected to give its nod next year.

    Nord Stream 2 is a joint venture of Russia’s gas giant Gazprom and five European companies. It aims to deliver 55 billion cubic meters of Russian natural gas annually to the European Union across the Baltic Sea to Germany. The pipeline project has been welcomed by some countries in Europe and opposed by others, fearing that it might increase their dependence on Russian gas.

    READ MORE: Putin on Nord Stream 2: It Would Be a Shame if EU Fails to Defend Its Interests

    The project's estimated cost is 9.5 billion euros ($10.9 billion). Gazprom's European partners — France's Engie, OMV, Royal Dutch Shell and Germany's Uniper and Wintershall — pledged to finance 50% of the project in the long term. The remaining funds will be provided by Gazprom.

    Related:

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    Shell Not Ruling Out Exit From Nord Stream 2 if US Introduces Sanctions - CEO
    US to Introduce Sanctions Against Nord Stream 2 Project - German Official
    Russia Ready to Fund Nord Stream 2 if US Imposes Sanctions – Report
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    Nord Stream 2, pipeline, OMV AG, Rainer Seele, Russia, Denmark
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