Subscribe to our news feedNord Stream Project will supply 4% of UK gas
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Published on Tuesday 1st December 2009
The Nord Stream Project will supply a significant proportion of UK gas, according to an official heading up the scheme. In an interview with the Times, chief executive of the consortium Matthias Warnig said the UK market had already earmarked four billion cubic metres of gas to be imported every year. This represents around four per cent of Britains supply, he explained, adding that the pipeline is due to start supplying European countries in 2012. Mr Warnig commented: "The UK is switching from a gas exporter to an importer. "By 2025 there will be a substantial import need ... Several billion cubic metres per year are already contracted for the UK through Nord Stream." The new provider noted that this winter the UK will have to import half of its gas supplies from other sources, including Norway, Qatar and Algeria. Mr Warnig recently announced the Nord Stream Project is to receive its first loan instalment by the end of the year, with banks expected to provide some €3.9 billion (£2.35 billion). 
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