The new gas supply for Europe
Nord Stream is a natural gas pipeline that will link Russia and the European Union through the Baltic Sea. The project will be an impor- tant contribution to long-term security of supply and a milestone of the energy partnership between the European Union and Russia. The first of two parallel pipelines, each 1,224 kilometres long, are scheduled to deliver gas in the last quarter of 2011. Full capacity of about 55 billion cubic metres per year will be reached when the second line goes on stream in 2012. Nord Stream AG is an international joint venture established for the planning, construction and subsequent operation of the pipeline through the Baltic Sea. Russian OAO Gazprom holds a 51 per cent stake. The German companies BASF SE/Wintershall Holding GmbH and E.ON Ruhrgas AG hold 15.5 per cent each, and the Dutch gas infrastructure company N.V. Nederlandse Gasunie and the French energy company GDF SUEZ S.A. each hold a 9 per cent stake.