Russia’s Gazprom says construction of Nord Stream 2 subsea pipeline completed

Gazprom (GAZP.MM) said on Friday it had finished construction of the Nord Stream 2 subsea pipeline to Germany, which could allow Russia to double lucrative gas exports to Europe via the Baltic Sea while bypassing and cutting off a source of income for political foe Ukraine.

Although German regulators have yet to clear gas flows, completion of the construction stage means Russia has boosted its energy exporting capabilities towards Europe both from the north in the Baltic Sea and from the south in the Black Sea, where it operates the TurkStream pipeline.