Construction of Nord Stream approved

A Finnish environmental agency on Friday approved plans to build a natural gas pipeline in the Baltic Sea.

Izvor: FoNet

Friday, 12.02.2010.

14:48

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A Finnish environmental agency on Friday approved plans to build a natural gas pipeline in the Baltic Sea. This was the final permit needed for the underwater energy link between Russia and Germany, reports said. Construction of Nord Stream approved The decision by the regional agency means the Russian-German joint venture Nord Stream AG can start the EUR 7.4bn project in April. The company had already received permits from Denmark, Sweden, Germany, Russia and Finland's national government. The first of two pipes is expected to be completed in 2011. Once completed the dual pipeline will carry 55 billion cubic meters of natural gas a year from Russia to Germany – enough for more than 25 million people. Europe is hoping a direct pipeline to Russia will ensure continuous supplies of natural gas, AP reported. In recent years, a long-standing spat between Russia and Ukraine threatened supplies. Russia's Gazprom holds 51 percent of Nord Stream, while German energy companies E.ON Ruhrgas AG and Wintershall AG each have a 20 percent share. Dutch company Nederlandse Gasunie NV holds the remaining 9 percent.

Construction of Nord Stream approved

The decision by the regional agency means the Russian-German joint venture Nord Stream AG can start the EUR 7.4bn project in April.

The company had already received permits from Denmark, Sweden, Germany, Russia and Finland's national government.

The first of two pipes is expected to be completed in 2011. Once completed the dual pipeline will carry 55 billion cubic meters of natural gas a year from Russia to Germany – enough for more than 25 million people.

Europe is hoping a direct pipeline to Russia will ensure continuous supplies of natural gas, AP reported.

In recent years, a long-standing spat between Russia and Ukraine threatened supplies.

Russia's Gazprom holds 51 percent of Nord Stream, while German energy companies E.ON Ruhrgas AG and Wintershall AG each have a 20 percent share. Dutch company Nederlandse Gasunie NV holds the remaining 9 percent.

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