Construction of Nord Stream approved - works worth 7.4bn EUR can start in April

Finnish Environment Protection Agency approved the plans for construction of gas pipeline Nord Stream on February 12, 2010, which was the last condition for commencement of construction of the gas pipeline between Russia and Germany, across the Baltic Sea.

The decision made in Finland means that the works on Nord Stream, worth 7.4bn EUR, can start in April since the construction of gas pipeline has already been approved by the governments of Denmark, Sweden, Germany and Russia.

According to the plan, the gas pipeline will annually transfer 55bn cubic meters of natural gas from Russian to Germany, which will satisfy the needs of over 25m people. European Union hopes that Nord Stream will ensure the stability of gas supply, which has been endangered over the last few years by constant disputes between Russia and Ukraine.

Russian Gazprom owns 51% of Nord Stream, German companies Ruhrgas and Wintershell own 20% of stocks of Nord Stream each, while the remaining 9% are in the possession of Dutch Nederlandse Gasunie.

Gazprom Moscow

Finnish Environment Protection Agency

gas pipeline Nord Stream

Baltic Sea

Government of Denmark

Government of Sweden

Government of Russia

Ruhrgas

Wintershell

Nederlandze Gasuni

Gazprom