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Transactions - NOVEMBER 1, 2019

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Denmark greenlights offshore gas pipeline development

by Kali Persall

Denmark energy officials have approved a permit for the construction of an offshore gas pipeline through the Danish continental shelf area in the Baltic Sea, according to Offshore Energy Today.

The Nord Stream 2 pipeline, to be developed by a subsidiary of Gazprom of the same name, will stretch 147 kilometers (91 miles) in the Danish Exclusive Economic Zone, southeast of Bornholm. Nord Stream 2 has invested more than €6 billion ($6.7 billion) in the project.

Nord Stream 2 expects foundation work on the Danish section of the pipeline to commence in the coming weeks. Already, more than 2,100 kilometers (1,304 miles) of pipeline have been laid in Finland, Sweden, Russia and Germany, with construction nearing completion in the latter two countries.

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