Nord Stream, the world’s longest subsea natural gas pipeline, will halt the link from Russia to Germany for 11 days of planned maintenance next week.
Nord Stream AG expects to start formal talks with banks “shortly” on borrowing 2.5 billion euros ($3.2 billion) for the expansion of a gas pipeline under the Baltic Sea to Germany, after delays this year.
OAO Gazprom will today start pumping natural gas into a $10 billion subsea pipeline from Russia to Germany, bypassing Ukraine, where disputes halted supplies to European customers twice since 2006.
Nord Stream AG hired three banks to advise it on 2.5 billion euros ($3.4 billion) of loans to ship Russian gas under the Baltic Sea to Germany.
Nord Stream AG raised 2.5 billion euros ($3.5 billion) from 24 banks, completing financing for construction of the OAO Gazprom -led natural-gas pipeline from Russia to Germany under the Baltic Sea.