The contract value is approximately one billion EUR, of which German Europipe will be awarded 65 percent, the Russian pipe company OMK 25 percent, and Japanese Sumitomo 10 percent, a press release from the company reads.
According to Newsru.com, the financial crisis have resulted in a 40 percent price reduction on the Nord Stream pipes.
Construction of the first line of the Nord Stream Pipeline is scheduled to commence on 1 April 2010; construction of line two is planned to start in spring 2011.
A tender on the first of the two Nord Stream parallel pipelines was conducted in 2007. That was won by Europipe and OMK.
