Nord Stream AGSaipem SpA of Italy have signed a contract for laying the Nord Stream gas pipeline, worth more than Euro1 billion. The Italian contractor will begin laying activities in the first months of 2010 using two pipelay vessels, in order to complete the first of the twin 1220-km long, 48-in, pipelines in the first half of 2011.
This is a prerequisite for first gas deliveries through the pipeline that are planned for 2011. The laying of the second line is scheduled for 2011 and 2012.
The contract covers the task of subsea pipelaying; negotiations relating to the shore approaches, tie-ins, rock dumping, as well as testing and commissioning, are still underway.
The twin Nord Stream gas pipelines will link Russia and the European Union via the Baltic Sea, and provide a transport capacity of 27.5bn cum/yr each; full capacity of about 55bn cum/yr will be reached in the second phase, when operation of the second line starts. Gas imports into the European Union, 336bn cum in 2005, are projected to grow by 200bn cum/yr to 536bn cum/yr in 2015. Connecting the world's biggest gas reserves with the European gas pipeline network, Nord Stream will meet about 25% of that additional requirement, and the project is seen as a very important contribution to long-term security of supply and a test of the energy partnership between the European Union and Russia.
Basket is empty.
