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Gazprom, BASF, E.ON, ENGIE, OMV and Shell sign deal on Nord Stream 2 project

Staff writer |
Gazprom, BASF SE, E.ON SE, ENGIE, Rainer Seele, OMV and Royal Dutch Shell signed an agreement on implementation of the Nord Stream 2 pipeline project.

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Alexey Miller, chairman of the Gazprom management committee, Kurt Bock, chairman of the voard of executive directors of BASF SE, Klaus Schäfer, member of the board of management, E.ON SE, Pierre Chareyre, executive vice-president of ENGIE, Rainer Seele, chairman of the executive board of OMV and Ben van Beurden, chief executive officer of Royal Dutch Shell signed a shareholders’ agreement on implementation of the Nord Stream 2 pipeline project to enhance supply of natural gas to the European Union’s market.

The project will be developed by the new project company New European Pipeline AG. According to the document, Gazprom will own a 51 percent share in the project company. E.ON, Shell, OMV and BASF/Wintershall will each own ten percent and ENGIE will hold nine percent.

The Nord Stream 2 project envisages the construction of two offshore pipelines with the aggregate annual capacity of 55 billion cubic meters of gas to be constructed from Russia to Germany through the Baltic Sea.

The project will build on the positive experience of Nord Stream in implementing safe and reliable infrastructure.

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