The $11 billion natural gas pipeline could start pumping late next year
In the shadows of a long-silent East German nuclear reactor on the edge of the Baltic Sea, engineers are drilling, dredging, and digging in a forest clearing. As one set of workers shifts contaminated concrete and other radioactive materials from the Soviet-designed Greifswald plant, half a kilometer away contractors for Gazprom PJSC are building the latest monument to Europe’s growing dependence on Russia for energy: the controversial Nord Stream 2 gas pipeline. Germany could receive more gas pumped directly from Siberian fields as soon as late next year.
The $11 billion pipeline is one of three giant projects helping the world’s biggest gas producer strengthen its grip on Europe and Asia. Thousands of miles to the east, the Power of Siberia pipeline will connect with China, and a project under the Black Sea will deliver fuel to Turkey and southeast Europe.
This story is from the December 01, 2018 The Year Ahead 2019 edition of Bloomberg Businessweek Middle East.
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This story is from the December 01, 2018 The Year Ahead 2019 edition of Bloomberg Businessweek Middle East.
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