Gazprom Expects No Rise in Nord Stream 2 Costs If Not Authorized by Denmark

13:34 GMT, 28 June 2018

MOSCOW (Sputnik) - Russia’s energy giant Gazprom believes that the costs of the Nord Stream 2 project will not rise if Denmark's authorities do not allow the pipeline to be built in the country's territorial waters, Gazprom's deputy CEO Andrey Kruglov said.

Sputnik

"We do not expect that the cost of the Nord Stream 2 project will increase," Kruglov told reporters, answering a question on how the project costs may be affected in case the pipeline has to be constructed bypassing Denmark's territorial waters.

Nord Stream 2 Denmark’s spokeswoman Markela Dedopoulos told Sputnik on Wednesday that the company still expected to receive the necessary permits in the coming months.

Earlier this week, Danish Prime Minister Lars Lokke Rasmussen said that Denmark could block or delay the construction of the pipeline in Danish territorial waters for security reasons and proposed to discuss the Nord Stream 2 gas pipeline at a pan-European level.

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The pipeline project is a joint venture of Russia’s Gazprom with France's Engie, Austria’s OMV AG, UK-Dutch Royal Dutch Shell, and Germany's Uniper and Wintershall, aims to deliver 55 billion cubic meters of Russian natural gas a year to the European Union.

The pipeline is expected to run alongside Nord Stream 1 through the exclusive economic zones and territorial waters of Russia, Finland, Sweden, Denmark and Germany.