Nord Stream's Project Costs Remain EUR7.4 bn

Source: www.gulfoilandgas.com 4/15/2010, Location: Asia

There have been media reports stating that project costs for the Nord Stream Pipeline have increased from 7.4 billion to 8.8 billion euros. This is not true.

Nord Stream’s project CAPEX (capital expenditure) has not increased and remains 7.4 billion euros. In international accounting practice, there is a clear difference between project costs and finance costs. Finance costs are for example, interest on loans, arranging and commitment fees and are considered separate to actual project costs.


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