Nord Stream 2 inked financial deals with Shell and four other European energy companies

25/04/2017 11:33 Natural Gas


Nord Stream 2, the company in charge with planning, constructing and future operation of the Nord Stream 2 pipeline, inked financial deals with Shell and four other European energy firms - ENGIE, OMV, Uniper and Wintershall.

The length of the pipeline is 1,220 km and it will transport around 55 billion cubic meters of natural gas a year. It will traverse from the coast of Russia through the Baltic Sea to Greifswald in Germany – being a direct link between Russian reserves and European consumers.


The five energy firms have committed under the deals to assure financing for about 10% of the total cost of the project, which is presently valued at €9.5 billion.


Each company will offer a long-term backing facility of €285 million likely to be drawn down in 2017. Moreover, financing of around €665 million will be supplied to cover a combination of short and long-term funding and guarantees.


Gazprom stays the single shareholder of Nord Stream 2 AG.

Overhead powerlines to be implemented into the Autobahn for freight cars

15/08/2017 09:00:00

A new powerless project for freight cars is being developed by Siemens for the German Autobahn. The eHighway project aims to boost the viability of freight cars in a real-world environment.


Ireland: ESB will launch UK energy supplier this year

14/08/2017 15:09:00

Irish utility ESB is getting ready to launch an energy supplier in Britain later this year, accessing a highly competitive market that is also under inspection from government after the competition regulator found consumers were overcharged billions of pounds.


Daily (14.08.2017): British wholesale gas prices rose on Friday due to an unplanned outage

14/08/2017 10:52:00

Oil prices increased on Friday, following the IEA’s report which stated that crude oil stockpiles were now below 2016 levels. The agency also raised its 2017 demand growth forecast in its previous monthly report and declared it expected demand to be further expanded next year. Despite the strong demand, markets remain well-supplied thanks to strong output. Brent rose by almost 0.4% to close at $52.10 a barrel, while WTI price rose by around 0.5% to end at $48.82 a barrel.