Construction of second branch of Nord Stream pipeline to begin in May

The construction of the second Nord Stream gas pipeline will begin in May 2011, ARKA reports managing director Matthias Warnig as saying.

Warnig said that the first stage of the construction of the pipeline is expected to take place in early October 2011.

The construction of the first branch of the pipeline will be financed with 3.9 billion euros, the second – with 2.5 billion. Nord Stream is a fundamentally new route for Russian gas exports to Europe (primarily to the markets of Germany, Britain, France, the Netherlands and Denmark). The length of the pipeline is 1.22 thousand kilometers. Gazprom has already signed long-term contracts with future Nord Stream customers in several EU countries, including Germany, Denmark, the Netherlands, Belgium, France and the United Kingdom.