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Allseas signs a €8bn offshore pipelay contract for Nord Stream 2

Allseas, a Swiss company, has recently signed an offshore pipelay contract regarding the Nord Stream 2 project in the Baltic Sea. Nord Stream 2 AG has awarded this contract in the wake of an international tender process.



The company will be in charge of the first and second strings of the project and the pipelay works are expected to take place in 2018 and 2019.



The pipeline is meant to deliver Russian gas to the European market. The two strings of Nord Stream 2 are expected to deliver 55 bcm of gas per year, starting from the natural gas field of Bovanenkovo in the Yamal peninsula down through the Gulf of Finland, Denmark's and Germany's territorial waters.



The pipeline will run through 480 km and around 45,000 km of seabed have been inspected in order to secure the installation of the pipelays.



The shareholders of Nord Stream 2 AG are as follows: Gazprom (50%), BASF/Wintershall (10%), ENGIE (10%), E.ON (10%), OMV (10%) and Shell (10%).