Nord Stream is a joint project of five major companies: OAO Gazprom, BASF SE/Wintershall Holding GmbH, E.ON Ruhrgas AG, N.V. Nederlandse Gasunie and GDF Suez S.A. The combined experience of these energy companies ensures the best technology, safety and and corporate governance for this project, which aims to provide a secure supply of energy for Europe.

Nord Stream will be 1,220 kilometres long and will consist of two parallel lines. The first one, with a transmission capacity of around 27.5 billion cubic metres a year is due for completion in 2011. The second line is due to be completed in 2012, doubling annual capacity to around 55 billion cubic metres. This is enough to supply more than 26 million households in Europe.

Total investment in the offshore pipeline is projected at 7.4 billion euros. The exact budget will be calculated on the basis of cost estimates for pipe supplies, logistics and installation capacity, as they are the main cost factors for any offshore pipeline project.

Nord Stream is more than just a pipeline. It is a new channel for Russian natural gas exports, and a major infrastructure project which sets a new benchmark for cooperation between the European Union and Russia.