Nord Stream 2 The Next Milestone
Nord Stream 2 secures Europe’s energy supply. It will also help achieve the European Union’s climate goals.
Nord Stream 2, the new pipeline through the Baltic Sea, is being built by Gazprom to meet the need for additional gas imports into the European Union and to improve Europe’s security of supply. The project also supports the achievement of climate policy objectives in the European Union.
Wintershall Dea is one of five European energy companies that have committed themselves to providing long-term financing for 50 per cent of the total project costs, which are currently expected to be 9.5 billion euros. The European companies will each provide up to 950 million euros. Gazprom is the sole shareholder of the Nord Stream 2 AG project company. Wintershall Dea is convinced that Nord Stream 2, with a total capacity of 55 billion cubic metres of gas, is the safest, most efficient and most environmentally friendly route for Russian gas supplies because it provides a direct link to European consumers.
Safe and efficient gas supply for a sustainable energy future
In view of the decline in European domestic production, increasing import demand and climate and energy policy goals, Nord Stream 2 is indispensable for environmentally sustainable and cost-efficient European energy security. It is a modern and efficient infrastructure project that adheres to the highest technological and safety standards. In addition to its future contribution to emissions reduction by providing the necessary gas volume for the coal-to-gas switch, Nord Stream 2 will also have a low footprint in respect to emissions occurring during gas transportation. From our participation in the Nord Stream project, which was launched in 2011 and has since transported over 300 bcm natural gas to European consumers, we can attest to the benefits of developing additional pipeline infrastructure in Europe.
Climate protection in focus
Increased use of natural gas in power generation is a quick win for the climate. Power generation with natural gas instead of coal produces up to 50 per cent less CO2. In fact, natural gas supplied by Nord Stream 2 could save around 14 per cent of the EU’s total CO2 emissions from electricity generation.
Europe needs Nord Stream 2. The role of natural gas will become even stronger in the future if Germany decides to phase out coal-fired power plants by 2038. Gas-fired power plants provide flexible generation and emit significantly less CO2 than coal-fired power plants.
Research vessels belonging to contractors from eight countries were used for investigating the 1,230-km-long route, ranging from canoes to ultra-modern survey vessels. A total distance covering 59,000 kilometres was investigated. More than 2,300 samples were collected in order to study the geology of the seabed in detail.
tonnes of CO2 can be saved over the entire course of the project phase thanks to the environmentally friendly green logistics concept.
tonnes is the weight of each pipeline element. They are twelve metres long.
pipes will be laid for the pipeline.
billion euros are the estimated costs for the pipeline. The construction of Nord Stream 2 will not cost European consumers a single cent.
of the costs will be provided by the five investors ENGIE, OMV, Shell, Uniper and Wintershall Dea. The money will be repaid to the investors on a long-term basis, just like a loan. The sole shareholder of the Nord Stream 2 AG project company is Gazprom.