Finland has granted approval for the development of the Nord Stream 2 pipeline project, which is slated to run through the country’s exclusive economic zone.
The approval for the Nord Stream 2 AG gas pipeline development was given on 7 April and covers the portion that is expected to run through Finland’s exclusive economic zone.
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However, the consent is conditional and will be dependent on the applicant meeting the terms presented in the government’s approval notice.
The statement notes that the company responsible for implementing the project will be required to adhere with the general principle of prudence in preventing and controlling accidents and damage.
It also needs to take due account of the susceptibility and vulnerability of the Baltic Sea, as well as other projects operating in the economic zone.
Nord Stream 2 AG is the operator of the Nord Stream 2 gas pipeline development.
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By GlobalDataNord Stream 2 AG Permitting Manager Finland Tore Granskog said: “We are very pleased to have obtained this permit after an extensive and thorough permitting process.
“It marks yet another important milestone for the Nord Stream 2 project.”
Nord Stream 2 now needs one more permit from the Government of Finland before commencing, as the project’s development will require permits for both the construction and operation of the pipelines in the economic zone.
The second permit is slated to be granted under the Water Act and a decision is expected in the coming weeks.
The pipeline will span an area of approximately 374km across Finland’s exclusive economic zone upon completion.
Nord Stream 2 AG has already secured the relevant permits in Germany, while permitting procedures are currently underway in countries slated to be connected by the pipeline such as Russia, Sweden and Denmark.
Nord Stream 2 is a joint venture (JV) comprising Russian organisation Gazprom and five European companies, namely France-based Engie, Austria-based OMV AG, UK-Dutch Royal Dutch Shell and Germany’s Uniper and Wintershall.
The completed pipeline project is anticipated to deliver 55 billion cubic metres of gas a year to the European Union (EU) via the Baltic Sea to Germany.
A number of Eastern European countries are opposed to the project as these countries currently serve as the transit route to supply gas to Europe.
As a result, the transit revenues of the Eastern European nations are expected to be negatively affected once the project becomes operational.
