Russia Confident of Nord Stream-2 Pipeline Project

The Russian Energy Ministry is confident of implementing the Nord Stream-2 gas pipeline project, the Russian energy minister said.

"Systematic work to obtain the necessary permits from countries, the exclusive economic zone territory and territorial waters, where the pipeline will run along the bottom of the Baltic Sea, is in progress," Alexander Novak was also quoted as saying by TASS.

"Germany has made a decision and Finland literally today made the final decision. We are systemically working with other states, particularly with Denmark and Sweden. We are confident that the project will be implemented, because it is primarily commercial and European consumers and companies are interested in it. This is a major infrastructure project."

The project operator Nord Stream-2 AG has already received permits for the construction and operation of the gas pipeline from Germany and Finland. Procedures for obtaining permits in other countries along the pipeline route, including Russia, Sweden and Denmark, are on schedule.

The Nord Stream-2 project involves the construction of two gas pipelines with a total capacity of 55 billion cubic meters of gas per year from the coast of Russia through the Baltic Sea to Germany.

It will bypass the transit states—Ukraine, Belarus, Poland and other East European and Baltic countries and through the exclusive economic zones and territorial waters of five states—Russia, Finland, Sweden, Denmark and Germany.

The total cost of the project is estimated at €9.5 billion. The commissioning of Nord Stream-2 is scheduled for the end of 2019. The only shareholder of Nord Stream 2 AG is Gazprom. Gazprom's European partners in the project are German Uniper and Wintershall, Austrian OMV, French Engie and Anglo-Dutch Shell.