23 April 2024
Shell and partners eschew competition concerns with Nord Stream 2 loan
Publication date: 24 April 2017
Gas Strategies Group
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ISSN: 0964-8496
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The Nord Stream 2 pipeline being pursued by Gazprom has signed project financing agreements with five European energy companies, eschewing objections from the Polish competition regulator.
Engie, OMV, Shell, Uniper and Wintershall will each lend EUR 950 million (USD 1.03 billion) to the contentious project, rather than taking equity stakes as previously proposed. The funds in total will cover half of Nord Stream 2’s EUR 9.5 billion capital cost.