Russian pipeline awards one-billion euro contract
(MOSCOW) - Russian-led consortium Nord Stream, which is planning to build a giant gas pipeline under the Baltic Sea, has awarded a one-billion euro contract for steel piping, the group said on Friday.
"The value of the contract is around 1.0 billion euros (1.4 billion dollars). (Germany's) Europipe was awarded 65 percent, Russian pipe company OMK 25 percent and (Japan's) Sumitomo 10 percent," Nord Stream said in a statement.
The three firms are to provide Nord Stream with one million tons of pipe.
Construction of the 1,220-kilometre (762-mile) pipeline linking Vyborg in Russia to Greifswald in Germany is set to begin in April this year.
Russian energy giant Gazprom is leading the project, which it says will lower the risk of supply disruptions to western European markets.
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