Nord Stream’s green light
12 February 2010
Finnish authorities have issued the final outstanding permit enabling construction of the 1223 km long Nord Stream natural gas pipeline connecting Russia with Germany to commence.
The regional administrative agency for Southern Finland has granted a water permit to Nord Stream for the construction of the pipeline through the Finnish Exclusive Economic Zone in the Baltic Sea. The permit joins those already issued by Denmark, Sweden and Russia, through whose waters the € 7,4 billion pipeline will also pass, and means construction can commence in April this year.
Scheduled for completion in late 2011, the twin pipeline will transport 55 billion m3 of gas per year from the Russian port of Vyborg to the German port of Greifswald, where it will join the European energy grid. Russia's Gazprom has already signed long-term contracts to supply over 20 billion m3 of gas each year through the Nord Stream pipeline to customers in Germany, Denmark, the Netherlands, Belgium, France and the UK.
Speaking of Finland's agreement to the pipeline, Nord Stream's managing director, Matthias Warnig said, " This is the culmination of four years of intensive studies, consultations and dialogue with the authorities, experts, stakeholders and the public in Finland and other countries through the Baltic Sea region.
"Our project has been made possible by extensive cooperation between many European countries and it will make an important contribution to European energy security," he said.
