The multi-billion gas pipeline project Nord Stream in July reached the European continent, having surfaced in the German town of Lubmin. “This stage of the construction was important and captivating in a technical sense. Moreover, it is symbolic in fact the pipeline reached the European continent at the exact spot, where Wingas has already built a station to receive the gas,” the company said in an official statement.
The major shareholders of the Nord Stream project include Gazprom (51%), Germany’s Wintershall Holding and E.ON Ruhrgas (with 20% apiece) and the Netherlands’ Gasunie (9%). An agreement was reached in June to accept French company GdF Suez in the project (with less than 10%). The total investment the project, slated for commissioning in 2012, is estimated at 8.8bln euros.
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