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Nord Stream 2 can be constructed without foreign investments, - media

The Finance Director of Nord Steam 2 is convinced that Russian capital will be enough for the construction even if the U.S. imposes sanctions
13:36, 1 July 2018

Reuters

Even if the U.S. imposes sanctions, Russia can fund the construction of Nord Stream 2, as Paul Corcoran, the Finance Director of Nord Steam 2, said in the interview for Welt am Sonntag, DW reports.

“Certainly, the project will be financed. It is important for Gazprom, and Russia has high liquidity cushion in euro now,” he said stressing that the project can be implemented without foreign investors.

Related: Parliament Spokesperson urges US to deter Nord Stream 2 construction

Gazprom is not commenting on the statement.

Earlier, Corcoran also stated that the gas pipeline might be constructed bypassing Denmark if it refuses to give permission for the construction.

Russia’s leading energy enterprise Gazprom and its partners intend to start implementing the Nord Stream 2 project worth almost 10 billion euros in April 2018. The 1,200-kilometers-long pipeline is to be laid through the Baltic Sea, linking Russia and Germany – bypassing Ukraine, Poland, and the Baltic States. The capacity will be twice larger than that of Nord Stream-1. The construction is to be complete by late 2019.

Related: Danish Prime Minister offers to assess risks of Nord Stream 2 for Ukraine

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