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FX.co ★ Germany approves Nord Stream 2 gas pipeline

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Forex Humor:::2018-03-30T14:46:20

Germany approves Nord Stream 2 gas pipeline

Nord Stream 2 AG received permission to build and operate the gas pipeline across the Exclusive Economic Zone (EEZ) of Germany.


The Federal Agency for Maritime Navigation and Hydrography (BSH) issued the permit for the 30-km section in accordance with the federal mining law. Earlier on January 31, the Stralsund Mining Authority had approved construction and operation of the pipeline in German territorial waters (within 12 nautical miles) and its land section.


Thus, all necessary permits for the German section with a total length of 85 km have been obtained, Nord Stream 2 AG said in a statement.


Earlier, the company's CEO Matthias Warnig stated that construction would begin in 2018 after receiving all permits.


It still needs to get permission from several countries. Germany and Sweden has already approved construction. Finnish authorities would issue permits in the coming months. However, Denmark, under the new law, can veto the project.


The project cost is estimated at 10 billion euros. The partners of the project are Gazprom, Engie, OMV, Shell, BASF and Uniper.

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