Nord Stream 2 is a new export gas pipeline running from Russia to Europe across the Baltic Sea.
The decision to build Nord Steam 2 is based on the successful experience in building and operating the Nord Stream gas pipeline. The new pipeline, similar to the one in operation, will establish a direct link between Gazprom and the European consumers. It will also ensure a highly reliable supply of Russian gas to Europe. This is particularly important now when Europe sees a decline in domestic gas production and an increasing demand for imported gas.
The Nord Stream 2 project is implemented by the Nord Stream 2 AG joint project company. As soon as foreign shareholders acquire shares in the joint project company, the project's shareholding structure will be as follows: Gazprom – 50 per cent, BASF/Wintershall, ENGIE, E.ON, OMV, and Shell – 10 per cent each.
The entry point of the Nord Stream 2 gas pipeline into the Baltic Sea will be the Ust-Luga area of the Leningrad Region. Then the pipeline will stretch across the Baltic Sea. Its exit point in Germany will be in the Greifswald area close to the exit point of Nord Stream.
The total capacity of two strings of Nord Stream 2 is 55 billion cubic meters of gas per year. The aggregated design capacity of Nord Stream and Nord Stream 2 is therefore 110 billion cubic meters of gas per year.
Nord Stream 2 will be put into operation before late 2019.
In October 2012, the Nord Stream shareholders examined preliminary results of the feasibility study for the construction of the third and fourth strings of the gas pipeline and came to the conclusion that their construction was economically and technically feasible. Later on, the construction project for the third and fourth strings came to be known as Nord Stream 2.
In June 2015, Gazprom, E.ON, Shell, and OMV signed the Memorandum of Intent providing for the joint construction of two strings of Nord Stream 2.
In September 2015, Gazprom, BASF/Wintershall, ENGIE, E.ON, OMV, and Shell signed the Shareholders Agreement to build the Nord Stream 2 gas pipeline system.
Nord Stream 2 will be constructed using the technologies successfully employed in the Nord Stream project. The experience of Nord Stream AG, which has constructed and now operates Nord Stream, will make it possible to implement the Nord Stream 2 project in compliance with the highest environmental standards.