According to Russian Energy Minister Alexander Novak, about 5% of the total cost of the project remains.
The Ministry of the energy of the Russian Federation is confident that the “Nord stream- 2” construction project will be implemented. This was stated by the head of the Ministry of Energy Alexander Novak.
“This is a commercial project, implemented by several global companies. Given that a huge amount of money has been invested and there are very few investments left, about 5% of the total cost of the project, I think that this project will be implemented,” Novak said.
“Nord stream -2” includes two lines of a gas pipeline with a total capacity of 55 billion cubic meters of gas per year, which are laid from the Russian coast through the Baltic Sea to Germany. Gazprom’s European partners in the project are Germany’s Juniper and Wintershall, Austria’s OMV, France’s Engie and Anglo-Dutch Shell. The pipeline bypasses transit States (Ukraine, Belarus, Poland, and other Eastern European and Baltic countries) through the exclusive economic zones and territorial waters of Russia, Finland, Sweden, Denmark, and Germany.
At the end of 2019, US President Donald Trump signed the law on the country’s defense budget, which included a provision on sanctions against “Nord stream- 2,” including against companies that agreed to participate in this project. Against this background, the Swiss company Allseas, which laid pipes for “Nord stream -2,” suspended work and recalled the vessels involved in the project.