Project Plan considers Environmental Dialogue and Security of Supply Needs
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Additional environmental surveys
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Shareholders confirm important investment decisions
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Nord Stream aims for gas deliveries from 2011
5. Juni 2008 | Zug | Following a meeting of the Shareholders Committee on 4 June 2008, Nord Stream AG today confirmed the project plan envisaging start of gas deliveries in 2011. The project plan includes extended consideration of all environmental requests from authorities and the public, along with continuation of an intensive dialogue. Nord Stream envisages pipeline construction starting at the beginning of 2010. Therefore, the Shareholders Committee has confirmed further substantial investment decisions for implementing the project. Nord Stream was asked to finalise negotiations and sign contracts with Saipem S.p.A. (Milan, Italy) for pipe-laying services, and EUPEC PipeCoatings S.A. (Dunkerque, France) for weight coating and logistics.
Matthias Warnig, Managing Director of Nord Stream AG, said: “Nord Stream is the most advanced of all gas infrastructure projects labeled ‘of European interest’ by the European Union. We are aware of the environmental concerns and are taking sufficient time and effort to address them. Based on intensive planning and preparation, we will be able to supply additional gas from 2011.”
More time for international consultations with the Baltic Sea countries
The project plan takes into consideration the outcomes of the international consultations with all Baltic Sea countries. Nord Stream will complete additional environmental surveys, based on the recent requests by the authorities, in summer. The results will serve as part of the comprehensive transboundary Environmental Impact Assessment (EIA) report, the final draft of which will be submitted to the authorities in October 2008, as required by international law (Espoo Convention).
Essential investments to meet Europe’s additional gas demands
Both Saipem and EUPEC guarantee measures to ensure an efficient and expedited pipeline construction process. Saipem, which will be contracted to install the pipelines, is able to provide two lay barges. As Nord Stream initially planned only one vessel for pipe-laying, the process now will be able to be finished on time despite a later start date. EUPEC will be commissioned to undertake the concrete weight coating of the pipes and logistics services. EUPEC has a supply chain management programme that includes, among others, providing for several interim stock yards for pipe storage at various locations around the Baltic Sea. This ensures the most direct transport of the pipes from storage facilities to the pipeline construction site, with travelling distances of not more than 100 miles.
