Nord Stream price tag doubled
The costs for the 1200 km long Nord Stream pipeline through the Baltic Sea will become almost twice higher than the original estimates.
According to new information from majority owner Gazprom, the price for the project is now estimated to 7.4 billion EUR. The first price estimate for the project was about 4 billion EUR. Thirty percent of the project money will be invested by the shareholders, while the remaining 70 percent will be obtained in external loans. Nord Stream is a 1200-kilometre-long off-shore natural gas pipeline stretching through the Baltic Sea, from Vyborg, Russia to Greifswald, Germany which is to be built by Nord Stream AG. Nord Stream is a joint project of three major companies: Gazprom, Wintershall AG/ BASF SE and E.ON Ruhrgas AG / E.ON AG.
