Shell is among a group of five energy companies who have agreed to stump up funding for the Nord Stream 2 project.

Shell, Engie, OMV, Uniper and Wintershall have each committed to provide financing and guarantees for up to 10% of the total cost of the project, which is currently estimated to be £8billion.

Each company will provide a long-term funding facility of £240million expected to be drawn down in 2017.

In addition, funds of up to £565million will be provided to cover a combination of short and long-term funding and guarantees.

The 1,220-kilometer pipeline will be able to transport a total capacity of 55 billion cubic meters of natural gas a year.

It will run from the coast of Russia via the Baltic Sea to Greifswald in Germany.

Full Article:  https://www.energyvoice.com/oi...