Nord Stream 2 AG and European energy companies sign financing agreements

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RELEASE

The Nord Stream 2 project, being pursued by Gazprom, has taken today another important step towards its implementation, responding to the need of the European Union for additional gas imports and thereby improving security of supplies to Europe.

Nord Stream 2 AG signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall.

Mario Mehren, Chairman of Board of Directors of Wintershall Holding GmbH, Maarten Wetselaar, Member of Executive Committee of Shell, Matthias Warnig, Chief Executive Officer of Nord Stream 2 AG, Alexey Miller, Isabelle Kocher, Chief Executive Officer of ENGIE SA, Klaus Schaefer, Chief Executive Officer of Uniper SE, and Rainer Seele, Chairman of Executive Board of OMV AG, signing financing agreements for Nord Stream 2 pipeline project
Mario Mehren, Chairman of Board of Directors of Wintershall Holding GmbH, Maarten Wetselaar, Member of Executive Committee of Shell, Matthias Warnig, Chief Executive Officer of Nord Stream 2 AG, Alexey Miller, Isabelle Kocher, Chief Executive Officer of ENGIE SA, Klaus Schaefer, Chief Executive Officer of Uniper SE, and Rainer Seele, Chairman of Executive Board of OMV AG, signing financing agreements for Nord Stream 2 pipeline project

Mario Mehren, Chairman of Board of Directors of Wintershall Holding GmbH, Maarten Wetselaar, Member of Executive Committee of Shell, Matthias Warnig, Chief Executive Officer of Nord Stream 2 AG, Alexey Miller, Isabelle Kocher, Chief Executive Officer of ENGIE SA, Klaus Schaefer, Chief Executive Officer of Uniper SE, and Rainer Seele, Chairman of Executive Board of OMV AG, at signing ceremony

These five European energy companies have committed to provide long-term financing for 50 % of the total cost of the project, which is currently estimated to be €9.5 billion. Each European company will fund up to €950 million. Gazprom is and will remain the sole shareholder of the project company, Nord Stream 2 AG.

Maarten Wetselaar, Member of Executive Committee of Shell, Klaus Schaefer, Chief Executive Officer of Uniper SE, Mario Mehren, Chairman of Board of Directors of Wintershall Holding GmbH, Alexey Miller, Gerhard Schroeder, Chairman of Shareholders Committee of Nord Stream 2 AG, Isabelle Kocher, Chief Executive Officer of ENGIE SA, Gerard Mestrallet, Chairman of Board of Directors of ENGIE Group, Rainer Seele, Chairman of Executive Board of OMV AG, and Matthias Warnig, Chief Executive Officer of Nord Stream 2 AG, taking part in signing of financing agreements for Nord Stream 2 pipeline project
Maarten Wetselaar, Member of Executive Committee of Shell, Klaus Schaefer, Chief Executive Officer of Uniper SE, Mario Mehren, Chairman of Board of Directors of Wintershall Holding GmbH, Alexey Miller, Gerhard Schroeder, Chairman of Shareholders Committee of Nord Stream 2 AG, Isabelle Kocher, Chief Executive Officer of ENGIE SA, Gerard Mestrallet, Chairman of Board of Directors of ENGIE Group, Rainer Seele, Chairman of Executive Board of OMV AG, and Matthias Warnig, Chief Executive Officer of Nord Stream 2 AG, taking part in signing of financing agreements for Nord Stream 2 pipeline project

Maarten Wetselaar, Klaus Schaefer, Mario Mehren, Alexey Miller, Gerhard Schroeder, Chairman of Shareholders Committee of Nord Stream 2 AG, Isabelle Kocher, Gerard Mestrallet, Chairman of Board of Directors of ENGIE Group, Rainer Seele, and Matthias Warnig

Alexey Miller and Gerhard Schroeder taking part in signing of financing agreements for Nord Stream 2 AG’s Nord Stream 2 pipeline project with European energy companies
Alexey Miller and Gerhard Schroeder taking part in signing of financing agreements for Nord Stream 2 AG’s Nord Stream 2 pipeline project with European energy companies

Alexey Miller and Gerhard Schroeder

The financial commitment by the European companies underscores the Nord Stream 2 project's strategic importance for the European gas market, contributing to competitiveness as well as medium and long-term energy security especially against the background of expected declining European production.

Gerard Mestrallet, Chairman of Board of Directors of ENGIE Group, Alexey Miller, Isabelle Kocher, Chief Executive Officer of ENGIE SA, and Gerhard Schroeder, Chairman of Shareholders Committee of Nord Stream 2 AG, taking part in signing of financing agreements for Nord Stream 2 AG’s Nord Stream 2 pipeline project with European energy companies
Gerard Mestrallet, Chairman of Board of Directors of ENGIE Group, Alexey Miller, Isabelle Kocher, Chief Executive Officer of ENGIE SA, and Gerhard Schroeder, Chairman of Shareholders Committee of Nord Stream 2 AG, taking part in signing of financing agreements for Nord Stream 2 AG’s Nord Stream 2 pipeline project with European energy companies

Gerard Mestrallet, Alexey Miller, Isabelle Kocher, and Gerhard Schroeder

The 1,220-kilometer Nord Stream 2 gas pipeline, with a total capacity of 55 billion cubic meters a year, will provide a direct link between reliable Russian gas reserves and European gas consumers from the coast of Russia via the Baltic Sea to Greifswald, Germany. Construction work will begin in 2018 and will be completed by the end of 2019.

Nord Stream 2 AG and European energy companies sign financing agreements
Nord Stream 2 AG and European energy companies sign financing agreements

Nord Stream and Nord Stream 2 gas pipelines

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