Gas deliveries to Germany via Nord Stream ares expected at the end of October – beginning of November

Gas deliveries to Germany via Nord Stream are expected at the end of October – beginning of November, a director of Nord Stream AG, Henning Kothe reported on Tuesday.

“In September the pipeline was filled with technological gas. We expect to reach 70 bar pressure needed to deliver gas to Germany at the end of October – beginning of November”, he said.

The President of United Metallurgical Company CJSC, which supplied the project with pipes, Vladimir Markin said, this would most likely happen on November 8th.

Nord Stream is a new route used for export of Russian gas to Europe. 1.22 thousand km pipeline is laid along the bottom of the Baltic Sea from Russia (Vyborg) to Germany (Greifswald). Launch of the first line of the pipeline with 27.5 billion cubic metres throughput capacity is expected in October 2011. Completion of the second line in autumn 2012 will increase the throughput capacity to 55 billion cubic metres per year. Gazprom has already signed long-term gas delivery contracts with several EU clients including Germany, Denmark, Netherlands, Belgium, France and Great Britain.

In July,the Russian PM Vladimir Putin claimed, Russia was thinking about building of the third line of Nord Stream.

Current shareholders of Nord Stream project are Russian Gazprom (51%), German Wintershall Holding (15.5%) and E.ON Ruhrgas (15.5%), French GDF Suez (9%) and Dutch Gasunie (9%).

Source: http://www.rosinvest.com/news/859430/

Translated by Alexandra Utyasheva