Nord Stream Price Overruns Cloud Europe’s Gas Picture

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The Nord Stream natural gas pipeline has the potential to deliver much of northern Europe’s natural gas requirements from a reliable source in Siberia to the German coast. It is one of Russian energy giant Gazprom’s best-planned and most-ambitious projects, involving a consortium of construction firms around the Baltic region and investors from Europe’s major energy firms. Yet when the first of the project’s two planned pipelines through the Baltic Sea was completed in May, it became apparent that Nord Stream’s cost was much higher than originally projected. Though the impact will be felt by all of the project’s European […]

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