A Russian-led gas pipeline project across the Baltic Sea to Europe could be dela...
COPENHAGEN/MOSCOW - A Russian-led gas pipeline project across the Baltic Sea to Europe could be delayed by up to eight months and cost an extra 660 million euros due to hurdles in securing the necessary permits from Denmark, the pipeline operator has said.
The timeline of the project, led by state-owned Gazprom , is key for the future of the gas transit contract between Moscow and Kiev, as Ukraine is Russia’s main gas route for exports to Europe. Nord Stream 2, aimed at doubling the annual capacity of the existing Nord Stream pipeline by adding 55 billion cubic meters, is to run via the waters of Finland, Sweden, Denmark and Germany. It has approvals from all countries whose waters it crosses apart from Denmark.
Nord Stream 2, in a complaint to the Danish authorities in April, said costs related to the new request for a third route had already totaled more than 100 million euros.
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