Germany Approves Nord Stream Pipeline

December 29, 2009

Nord Stream AG today received the permit to construct the 31 kilometre section of the natural gas pipeline in Germany’s Exclusive Economic Zone. The permit was granted by the Federal Maritime and Hydrographic Agency (BSH) in Hamburg. This second and final German permit leaves only the second Finnish permit outstanding. The consortium had already received permits from Denmark, Sweden and Russia through whose waters the pipeline will pass, as well as the Finnish EEZ permit and the permit for the 50 kilometre section of the pipeline in German territorial waters and landfall in Lubmin near Greifswald.

"We are firmly on schedule to start construction of the pipeline in spring 2010 and to start transporting gas in 2011", said Nord Stream’s Managing Director Matthias Warnig.

When completed in 2012, Nord Stream will be able to transport 55 billion cubic metres of gas per year from Russia to Germany, where it will be connected to the European energy grid. Gazprom has already signed long-term contracts to supply gas through Nord Stream to customers in several EU countries including Germany, Denmark, The Netherlands, Belgium, France and The United Kingdom.

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