Gazprom to finance Nord Stream II project with its own resources – Region, 17 August

After the partners of Russian gas company Gazprom withdrew from the project for the construction of Nord Stream II gas pipeline last week, under the pressure of the ruling of Polish Competition Protection Office, media report that Gazprom is planning to launch the construction of the gas pipeline between Russia and Germany with its own resources.
However, the cost of construction of Nord Stream II is estimated to between 8 and 11 billion dollars, which is a huge, if not impossible financial venture for Gazprom, especially with the international sanctions in force. Due to the ruling of Polish Competition Protection Office, Engie, OMV, Wintershall, Shell and Uniper have withdrew from further participation in this project, which is also deemed by the European Commission as a possible means of political pressure directed at Poland, the other members of Visegrad Group and Ukraine. These companies withdrew their applications for a Polish joint venture, since Gazprom did not get an approval from Competition Protection Office to sell shares in the joint venture to its partners.

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