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Baltic pipeline consortium opens headquarters in Switzerland

Baltic pipeline consortium opens headquarters in Switzerland

A group of companies building a gas pipeline beneath the Baltic Sea has opened its head office in the Swiss tax haven of Zug, according to a company statement Wednesday.
Nord Stream's 1,200 kilometer (750-mile) pipeline passes through Russian, Finnish, Swedish, Danish and German territory, the company said. Construction is due to start in 2010.
"Nord Stream is essential for ensuring Europe's energy security for the coming decades," Managing Director Matthias Warnig said.
Russia's OAO Gazprom owns 51 percent of Nord Stream, while German energy companies E.ON Ruhrgas AG and Wintershall AG each hold 24.5 percent in the consortium.


Updated : 2021-06-23 10:21 GMT+08:00