Nord Stream Approaches Milestone

Nord Stream AG will complete laying its first gas pipeline within 24 to 48 hours, said Ruurd Hoekstra, Deputy Director of the pipeline.

Nord Stream consists of two 1,224 kilometre natural gas pipelines with an overall annual capacity of 55 billion cubic metres (bcm), that will deliver natural gas from Russia to Germany under the Baltic Sea.

Pipeline one, with a designed annual capacity of 27 bcm, will be ready for commercial operation on schedule by October according to Hoekstra.

Gazprom holds a 51 percent stake in the joint venture. BASF SE/Wintershall Holding GmbH and E.ON Ruhrgas each hold 15.5 percent, and Gasunie and GDF SUEZ each have a 9 percent share.