The Nord Stream 2 gas pipeline construction is 99% complete, the operating company said on Wednesday, while media reports say the Russian-led project is expected to be finished on August 23.
ollowing reports by Deutsche Welle news outlet that the construction of the Nord Stream 2 pipeline is set to be completed on August 23, natural gas prices fell sharply in Europe, according to Reuters.
Swiss-based Nord Stream 2 AG referred Reuters to a Handelsblatt business daily interview last month with its CEO Matthias Warnig who said the pipeline, which will bring Russian gas to Germany, should be finished in late August and enter service this year.
Nord Stream 2, which runs on the bed of the Baltic Sea from Russia to Germany, bypassing Ukraine, has faced criticism from the United States, over a potential increase of European reliance on Russian gas. Led by Russia’s Gazprom with Western partners, the pipeline doubles the capacity of the existing Nord Stream 1.
Russian President Vladimir Putin and German Chancellor Angela Merkel are expected to discuss the issue upon meeting in Moscow on Friday.
Works on Nord Stream 2 were delayed in December 2019 after the US Congress imposed sanctions on the project, forcing the exit of Swiss pipelay operator Allseas.