The Nord Stream Shareholders’ Committee convened at Portovaya Bay, Russia, the starting point of the twin pipeline system to mark the occasion of the flow of gas through Line 2. The Committee reviewed the outcomes of the feasibility study for the potential extension, and acknowledged the conclusions therein.

The feasibility study confirmed that the extension of Nord Stream with one or two additional lines is possible from the technical, environmental, permitting and financing perspectives. Several route options were assessed as the basis for further research, development and optimisation. The study also identified additional import needs in the long-term development of the European gas market.

The Committee agreed that any further project development should be executed within the framework of a new company to be incorporated within the first quarter of 2013. This decision was based on the benchmark set of the current Nord Stream project. The shareholders will decide their participation by that time.