Estimated to cost $11bn, the Nord Stream 2 project will have the capacity to carry 55bcm of gas to Europe, across the Baltic Sea
The Nord Stream 2 project will supply 55bcm of gas. (Credit: PublicDomainPictures from Pixabay)
The Russia-led Nord Stream 2 consortium has reportedly completed pipe-laying work for the new $11bn gas export pipeline project in German waters.
The move marks the conclusion of work on a 2.6km-long portion of the pipeline that was stalled as a result of risks of the US sanctions, according to Reuters.
Intended to deliver Russian gas to Europe, across the Baltic Sea, the project is being developed by Russia’s state-owned gas export firm Gazprom.
The pipeline originates from eastern Russia and will pass through Finnish, Swedish and Danish waters to terminate near the German coast of the Baltic Sea.
Referring to the pipe-laying in the German economic zone, the consortium was quoted by the news agency as saying in an emailed statement: “We have completed this work.”
Nord Stream 2 project to serve approximately 26 million households
The Nord Stream 2 project, which will have the capacity to carry 55 billion cubic meters (bcm) of gas, is expected to serve approximately 26 million households in Western Europe.
Recently, the Russian pipe-laying vessel Fortuna has departed the Nord Stream 2 pipeline construction site in Germany’s section of the Baltic Sea, according to Refinitiv Eikon data.
The Fortuna vessel is due to continue pipe lying work for the project in Danish waters, in January 2021.
The consortium is due to complete more than 100km of pipeline section of the project, which is now more than 90% complete.
In November, Norwegian classification society DNV GL has reportedly suspended work on the Nord Stream 2 project due to concerns over the US sanctions.
Poland’s Office of Competition and Consumer Protection (UOKiK) has imposed a penalty of more than PLN29bn ($7.62bn) on Gazprom in October for constructing the Nord Stream 2 NS2 pipeline without its approval.