Nord Stream Launches Second Pipeline
The Nord Stream pipeline consortium has officially launched the second line of its pipeline, with its inauguration today.
Following the launch, the pipeline will now double in capacity, bringing the annual amount of gas to be transported through the twin pipeline to 55 billion cubic metres a year. The second pipeline began to flow gas from northern Russian fields and is flowing through the Unified Gas Supply System of Russia, a statement from Nord Stream said today.
The Portovaya compressor station, operated by Gazprom, will enable the tansmission of the gas through the 1,224 kilometre length of pipelines, through the Baltic Sea to Germany, negating the need for any interim compression.
The inauguration of the pipeline was attended today by stakeholders of the pipeline and several public and European officials, and was praised by several heads of state, including Russian President Vladimir Putin, German Chancellor Angela Merkel, Dutch Prime Minister Mark Rutte and French President François Hollande.
"Nord Stream is able to satisfy the growing energy demand from Europe," President Putin said today. "Stable and trouble-free gas supply will be provided directly, by the shortest route, which links the major European markets with Russian gas fields."
The launch of the second line of Nord Stream was also welcomed by the Nord Stream consortium today, in a statement released today.
"We are proud of this incredible achievement, made possible thanks to the dedication of everyone at Nord Stream, the support of our shareholders, as well as, of suppliers and contractors from all over the world," Managing Director of Nord Stream Matthias Warnig said today.
"Nord Stream is without a doubt one of the most modern systems for transporting energy ensuring that Europe enjoys a reliable supply from the world‟s largest deposits in Russia. Today, we can proudly say 'We Deliver!'" Gerhard Schröder, Chairman of the Nord Stream Shareholders Committee, added.
Gazprom is the operator and majority shareholder in the €7.4 billion pipeline with a 51 per cent stake. Germany's Wintershall Holding and E.ON Ruhrgas each hold a 15.5 per cent stake, while France's GDF Suez and the Netherlands' Gasunie each hold a 9 per cent stake in the pipeline.