Just 100 km left to complete Nord Stream 2 pipeline, ambassador says
- Only ~100 km of the Nord Stream 2 gas pipeline are left to lay, according to Russia’s ambassador to Germany, meaning the remaining pipeline could need just three more months for completion.
- In an interview with German media outlet RND, Sergei Nechayev also said he was hopeful the Gazprom-led (OTCPK:OGZPY) pipeline would be completed before the upcoming German election on Sept. 26.
- The ambassador’s comments suggest ~21 km have been laid in Danish waters in the April 1-May 7 period, according to S&P Global Platts.
- Two Russian vessels – the Fortuna and the Akademik Cherskiy – currently are operating in Danish waters; it they will lay pipe at a combined 1 km/day, and assuming weather conditions allow, it would take ~100 days to lay the remaining pipeline.
- Gazprom leads European partners Royal Dutch Shell (RDS.A, RDS.B), BASF’s (OTCQX:BASFY) Wintershall, Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY) in building Nord Stream 2.