OMV puts Nord Stream 2 costs at €10bn with 2019 commission date

Nord Stream 2 costs: The Austrian oil and gas distributor OMV has put the cost of laying a second gas pipeline along the bed of the Baltic Sea at €10bn and is predicting that it will be commissioned by the end of 2019. Along with Gazprom, E.ON, Shell, BASF / Wintershall and  Engie, OMV is part of of the consortium looking to lay a new 55 bcm pipeline Russia to Germany along the same route and with the same German entry point at Greifswald as the first Nord Stream gas pipeline that came into operation in 2011.
While several Central European countries are lining up behind Ukraine (that is set to lose most of its  much needed transit revenues if the new pipeline goes ahead) to oppose the scheme, OMV CEO Rainer Seele is bullish about its prospects. 
“We are investing in a project with a reliable and high level of profitability, its economic feasibility is amazing,” he said.  “A significant proportion of the gas will come into the gas distribution point Baumgarten, which will reinforce our strategic role in the supply of southeastern Europe.” 
The EU is likely to make a decision on the future of the project “in the coming days,”  according to its Energy Union Vice President Maros Sefcovic.

 
Source: ITAR-TASS