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Sunday, 06.07.2025, 07:44
Gazprom and Fortum review Nord Stream-2 progress
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The parties discussed the state and prospects of cooperation between the two companies, paying particular attention to the Nord Stream 2 project.
Fortum is a Finnish energy corporation.
Fortum holds a 49.99% stake in Uniper SE. On October 8, 2019, Fortum announced that it had entered into agreements with the Elliott and Knight Vinke investment funds to acquire a 20.5% stake in Uniper for approximately EUR 2.3 bn. As a result of the deal, Fortum's share in Uniper may increase to 70.5%.
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 bn cubic meters from Russia to Germany across the Baltic Sea. In 2017, Nord Stream 2 AG signed agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50% of the total cost of the project.
Fortum owns 29.5% of TGC-1 (part of the Gazprom Energoholding Group).
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