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Gasunie acquires 20% stake in Nord Stream pipeline link

Dutch natural gas transport company Gasunie has acquired a 20% stake in the North European Gas (NEL) pipeline - the second pipeline link for the Nord Stream Baltic Sea pipeline.

“The Nord Stream project, with the two connecting pipelines OPAL and NEL, is a pan-European energy concept which will make a key contribution to supply security in Europe. Gasunie’s involvement significantly enhances the European outlook of the project,” said a Wingas spokesperson.

The NEL pipeline will run from where the Nord Stream comes on land in Lubmin near Greifswald, Germany, to Rehden in Lower Saxony, Germany, stretching over 440km past Schwerin and Hamburg.

It will connect Nord Stream with the European gas network, just as the OPAL natural gas pipeline does to the Czech Republic. Natural gas from the major reserves in Russia can thus be transported directly to Germany and other member states of the European Union, in particular the Netherlands, Belgium, France and the UK. With Gasunie joining the project, the gas grid of Gasunie in Germany and Netherlands can be integrated into the overall concept.

With Gasunie (20%) entering the project, the shareholdings of the other two shareholders, Wingas and Eon Ruhrgas, decrease to 70% and 10% respectively (Wingas minus 5%, Eon Ruhrgas minus 15%).

The planned investment for the pipeline project is approximately €1bn (£831M).

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