The Russia-led Nord Stream 2 consortium has reportedly finished laying pipes for the new $11bn gas export pipeline project in German waters.
Reuters reported that the consortium has completed work on a 2.6km-long portion of the pipeline that was halted due to concerns over the US sanctions.
The consortium was quoted by the news agency as saying in an emailed statement: “We have completed this work.”
Reuters reported, citing the Refinitiv Eikon data, that the Russian pipe-laying vessel Fortuna has left the Nord Stream 2 pipeline construction site in the German section of the Baltic Sea.
In January 2021, the vessel is expected to continue pipe lying work for the gas pipeline project in Danish waters.
The Nord Stream 2 consortium is yet to complete laying more than 100km of pipeline for the project.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Developed by Russia’s state-owned gas export firm Gazprom, the pipeline project is intended to deliver Russian gas to Europe, across the Baltic Sea.
The Nord Stream 2 project will have the capacity to carry 55 billion cubic meters (bcm) of gas. Upon completion, the pipeline is expected to serve approximately 26 million households in Western Europe.
The pipeline originates from eastern Russia and will pass through Finnish, Swedish and Danish waters before terminating near the German coast of the Baltic Sea.
Nord Stream 2 is an expansion of the existing Nord Stream pipeline.
The energy delivered by the pipeline project will be equivalent to the amount of energy transported using between 600 and 700 liquified natural gas (LNG) tankers.