BASF will invest in the construction of the “Nord stream-2” within 5 years of approximately €2 billion

ST. PETERSBURG, October 12. BASF will invest in the construction of the “Nord stream – 2” within 5 years of approximately €2 billion this was announced at a press conference the head of the German company Kurt Bock.

“We are starting a new infrastructure project (“Nord stream – 2″), in which we plan to invest about €2 billion,” he explained.

As previously reported, the first auction “Gazprom” held in mid-September of the current year. At the first auction “Gazprom export” sold 1.23 billion cubic meters of gas at 250 million euros. By the end of 2015, the company plans to hold another auction.

“Nord stream 2”

Earlier it was reported that “Gazprom” will hold a tender for a contractor to “Nord stream-2” the following year. “We are on schedule. Tender for pipe prepare. Next year the tender for pipe-line will be,” the company said.

As reported earlier, the head of “Gazprom” Alexei Miller said on 6 October that the technical concept of the “Nord stream-2” will be the same as the “Nord stream-1”, and a new project.

During the development of the project “Northern stream-2” were taken into account the mistakes made in the implementation of the “Nord stream-1”. In addition, the project does not fall under European regulation, as the gas will be supplied by European companies that will solve the problem of restrictions of the Third Energo the”Nord stream-2″ involves the construction of two offshore strings with a total capacity of 55 billion cubic meters of gas per year from Russia to Germany under the Baltic sea, in addition to the existing two threads. The project will be done by joint project company (JPC) New European Pipeline AG. Gazprom, the SPC will be owned 51%, the German E. ON and BASF/Wintershall, Anglo-Dutch Shell and Austria’s OMV – 10% each, French ENGIE – 9%.