Power Nord Stream from today doubled!

08.10.2012 — the date when the second line "Nord Stream", which will increase the capacity of the pipeline twice — up to 55 billion cubic meters a year. Finally! Hurrah!

The first phase was launched on November 8 last year. The shareholders of the Nord Stream project are Gazprom (51%), German Wintershall Holding and E.ON Ruhrgas (by 15.5%), France’s GDF Suez and Dutch Gasunie (9%), RIA "Novosti". Nord Stream is a fundamentally new route for Russian gas exports to Europe.

Gas pipeline 1.22 thousand km runs along the bottom of the Baltic Sea from Russia (Vyborg) to Germany (Greifswald). Before the start of the route of Russian gas delivered to Western Europe in two ways — through Belarus and then Poland and then through Ukraine and Slovakia, with the last route accounted for two-thirds of deliveries.

With the launch of the first branch of "Nord Stream" gas started flowing from Russia to Germany and other Western European countries directly, which would lead to a reduction in transit through Ukraine and Slovakia. Indeed, the transit of natural gas through Ukraine to Western Europe in the first eight months of this year decreased by 22.86% compared to the same period last year — up to 54 billion cubic meters.

In the period from November 2011 to October 1, 2012 on the "Nord Stream" for export delivered 8.7 billion cubic meters. The route of the gas pipeline "Nord Stream" flows through the exclusive economic zone of Russia, Finland, Sweden, Denmark and Germany, as well as through the territorial waters of Russia, Denmark and Germany. Construction of the first line began in April 2010 and was completed in June 2011.

Construction of the second line began in May 2011, its styling was able to complete ahead of schedule — on April 18. Work began in 2005, when it was known as the North European Gas Pipeline (North European Gas Pipeline), and suggested that its members will also include land plots. Gazprom and German BASF and E.on 8 September 2005 signed an agreement in principle on the construction of the North European Gas Pipeline. Under the agreement, the partners have created a joint German-Russian gas pipeline construction company North European Gas Pipeline Company, in the capital of which Gazprom owned 51%, and partners — 24.5%, respectively.

Already 9 December 2005 in the city of Vologda region Babaevo was welded first joint of the onshore area of the North European Gas Pipeline. However, the technical concept of the project had been finalized in October 2006, the same year it was renamed the "Nord Stream", and it was decided that the project would only include the marine area. The operator is called Nord Stream AG and has been registered in Switzerland. In November of the same year began the process of approval of the construction with all countries through whose waters the pipeline passes.

In November 2007, joined the project by Dutch company Gasunie, received 9%. In the summer of 2010 with the same degree it entered the French GDF Suez. Coordination of the pipeline route with all countries was completed in February 2010, when the last permit was issued by Finland. Denmark, Sweden, Germany and Russia issued a permit in 2009. Performed only against the Baltic States, which believed that the pipeline from Russia to Germany should not go under the Baltic Sea, and by land, but the impact it no matter what I could not. Total investment in the "Nord Stream" of 7.4 billion euros. But Chief Financial Officer Paul Corcoran, Nord Stream has previously reported that since the company expects to begin receiving income until the end of 2011, during which time it must pay interest to shareholders and salaries, total investment could reach 9 billion euros. However, Corcoran said, after the company starts to generate revenue, it will keep within the original budget. Shareholders have provided 30% of the project budget in proportion to their shares in the consortium. The remaining 70% were recruited from external sources — banks and export credit agencies — in the form of project financing.

Raising finance in two stages. For the first phase of the project was to raise the necessary funds in the amount of 3.9 billion euros in March 2010, for the second phase of funding in the amount of EUR 2.5 billion was completed in March 2011. In May of this year, shareholders instructed the operator to "Nord Stream" for eight months to study the possibility of building another one or two branches. At the same time, in June, Gazprom CEO Alexei Miller said the gas giant has decided whether to build another two lines of the "Nord Stream", and one of them can reach the UK. According to him, the participants of the project’s construction may differ from the current composition of the shareholders of Nord Stream AG. Miller noted that the interest in building a branch to the UK was shown from British Petroleum. Gazprom CEO suggested that on a string, which will be held in continental Europe, the shareholders remain the same, but on the fourth string shareholders may be different. According to him, the configuration may be different, including, it would depend on the route — through the Baltic to Germany or the North Sea to the UK. Gazprom CEO said that in different areas may have different compositions of shareholders. "Critical decisions about the construction of additional capacity in the Baltic Sea will be adopted before the end of 2012," — said Miller.

At the end of December last year, the head of Gazprom said that the holding in the coming months will begin a feasibility study on the third and fourth branches of the "Nord Stream", which would bring the total exports by pipeline and 110 billion cubic meters of gas per year. Gazprom has repeatedly said that Ukraine after the launch of the "South Stream" and the expansion of the "Nord Stream" will have a value of zero for the export of Russian gas.

Russian authorities against the background of difficult gas talks with Ukraine, which is trying to reduce the price of fuel, and unauthorized taking the Ukrainian side in February of transit of Russian gas to Gazprom committed to accelerate the implementation of the project "South Stream", and to build this pipeline to the marine maximum capacity — 63 billion cubic meters gas. Construction of the pipeline will begin in December of this year.

Like this post? Please share to your friends: