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The Board of Directors of Gazprom on February 9 approved the acquisition of additional shares in Nord Stream 2 worth EUR 1.425 billion, according to the company report, Russian business news agency Prime reported.
"To determine that based on market value, the price of the acquired 71,250 additional registered shares of Nord Stream 2 AG should be EUR 1.425 billion," the report says.
Read alsoNord Stream 2 biggest threat to EU's 2020 targets for energy efficiency, renewables - mediaGazprom will acquire 71,250 additional registered shares of Nord Stream 2 AG with a nominal value of CHF 1,000 and with a total nominal value of CHF 71.25 million. Shares are issued and placed by private subscription due to an increase in the authorized capital of Nord Stream 2 AG, at a price of EUR 20,000 per share, with payment within 2017.
At the same time, Gazprom's share in the authorized capital of Nord Stream 2 AG will remain at 100%.
Read alsoPM Groysman seeks EU resistance to Russian political projects in energy fieldNord Stream 2 AG is a company established for the planning, construction and further use of the Nord Stream-2 gas pipeline. The company headquarters is located in Zug, Switzerland.
The North Stream-2 project involves the construction of two pipelines with a total capacity of 55 billion cubic meters of gas per year running from the Russian coast to Germany via the Baltic Sea. The new pipeline is to be built near the initial Nord Stream pipeline.