Nord Stream 2 project : Gazprom talks with BASF, ENGIE, OMV, Shell, Uniper

Zurich hosted today a number of working meetings of Alexey Miller, Chairman of the Management Committee of Gazprom, with Klaus Schaefer, Member of the Board of Management of E.ON and Chief Executive Officer of Uniper, Hans-Ulrich Engel, Member of the Board of Executive Directors of BASF, Rainer Seele, Chairman of the Executive Board of OMV, Pierre Chareyre, Executive Vice-President of ENGIE, and Maarten Wetselaar, Member of the Executive Committee of Shell.

The meetings addressed issues related to the Nord Stream 2 project.

On September 4, 2015, Gazprom, BASF, E.ON, ENGIE, OMV and Shell inked the Shareholders Agreement to construct the Nord Stream 2 gas pipeline system with the capacity of 55 billion cubic meters of gas a year from Russia to Germany across the Baltic Sea. The project is implemented by the joint project company Nord Stream 2 AG.

Once the share acquisition deals are completed with foreign shareholders, the joint project company's ownership structure will be as follows: Gazprom – 50 per cent, BASF, ENGIE, OMV, Shell, Uniper (a wholly-owned subsidiary of E.ON) – 10 per cent each.