Nord Stream 2 Gas Pipeline is 70% Financed so Far

Seventy percent of funds needed to finance the Nord Stream 2 underwater gas pipeline from Russia to Germany have been raised, TASS news agency quoted the head of Russian gas giant Gazprom, Alexei Miller, as saying on Sunday.

Nord Stream 2, which will double the capacity from the existing Nord Stream 1 pipeline from a current 55 billion cubic metres of gas a year, is owned by Gazprom, which is taking on half of the planned costs of 9.5 billion euros ($11 billion).

The rest is divided between five European energy companies - Germany's Uniper and Wintershall, Anglo- Dutch group Royal Dutch Shell (RYDAF), France's Engie and Austria's OMV.

($1 = 0.8679 euros)

(Reporting by Vladimir Soldatkin; Editing by Susan Fenton)