Business Wire

Arthur D. Little: Nord Stream 2 Provides Economic Benefits, Generates Innovation and Helps to Develop Contractors’ Businesses

Share

The second part of a recent report from Arthur D. Little (ADL) – “Nord Stream 2 economic impact in the construction phase” – analyzes the economic effects (job creation and GDP) of the ongoing project to build two new gas pipelines from Russia to Germany. The report, which is a follow-up to an earlier report created in 2017, analyzes the current status of project investment and concludes that the total economic benefit to the European Union (EU) represents €9.9 billion for building the pipelines. In comparison to the first report (2017), which was carried out in the procurement phase, more than twice as much CAPEX has now been committed and spent in several EU and non-EU countries now that the project is in the middle of construction. More than 1,000 contractors from all over Europe and Russia are contributing to the realization of the project. This includes both large international firms providing materials or construction services and small enterprises providing expert services. Furthermore, the investment until the end of December 2018 creates 57,500 full-time job equivalents in the EU over five years, adding €4.7 billion in GDP in various industrial sectors.

Nord Stream 2 is a major natural gas infrastructure project that aims to build a pipeline system with 55 bcm per year of transport capacity. It will safely and reliably export gas to the European market, where demand is stable but indigenous production is decreasing, creating an import gap.

The objective of the new Arthur D. Little study, commissioned by Nord Stream 2, is to understand the direct, indirect and induced effects of the project on the European economy, and on countries where actual investments in the pipeline have been or are being made in more detail. Compared to the previous report, the current one takes actual spent and detailed supplier data until the beginning of operations into account.

It estimates the effects related to the execution of the project, as well as those on supply chains and the wider economy. The analysis used an economic modeling tool (IMPLAN) based on underlying statistical databases for different economies. The study considers all committed and spent investments as of the end of December 2018 of (CAPEX) €8 billion.

The most pronounced effects are seen in countries where major project-related construction activities are taking place – Russia, Germany, Finland, Denmark and Sweden; in countries traditionally associated with the offshore oil and gas industry that host the majority of service providers – the Netherlands, the United Kingdom, Norway and Italy; and at the headquarters of the project developer and other international service providers. The current study was complemented with supplier interviews which confirmed the beneficial impact the project has had on corporate development and local communities. Also highlighted in the study were some of the major innovations and pioneering solutions for challenges that resulted from project work.

Michael Kruse, Partner in ADL’s Energy & Utilities Practice, said: “At a time when the oil and gas industry is experiencing cut-backs and lay-offs, this report transparently demonstrates the benefits of large energy infrastructure projects such as Nord Stream 2.”

The report can be downloaded here: www.adl.com/NordStream2impact.

Contact information

Cate Bonthuys
Catalyst Comms
+447746546773
cate@catalystcomms.co.uk

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

The We Company Q2 2019 Financial Results Conference Call19.8.2019 21:56:00 EESTPress release

WeWork Companies LLC (the “Company”), with respect to its 7.875% Senior Notes due 2025 (the “Senior Notes”), will hold a conference call on Monday, August 26, 2019, at 12:00 P.M. Eastern Time for the benefit of certain qualified participants in order to discuss the Company’s financial results for the second quarter of 2019. Current holders and beneficial owners of the Senior Notes, bona fide prospective purchasers of the Senior Notes who are qualified institutional buyers (as defined in Rule 144A under the Securities Act of 1933) or non-U.S. persons (as defined in Regulation S under the Securities Act of 1933), securities analysts, and market-making financial institutions may gain access to the call information for the conference call by registering on the Company’s secure website at investors.wework.com. Additional information about the call (including dial-in number) will be provided on the secure website. Parties requesting access to the Company’s secure website will be required to

BAI Announces 2019 Global Innovation Award Finalists19.8.2019 20:50:00 EESTPress release

BAI announced the finalists for the 2019 BAI Global Innovation Awards, the industry’s most prestigious awards program that celebrates transformative solutions in the financial services industry worldwide. Now in its ninth year, the BAI Global Innovation Awards recognizes leading financial services organizations on a global scale. Through hundreds of applications, the Innovation Circle, a panel of global financial services innovation leaders who thoroughly review each application, determined the top submissions. The judges weigh each innovation on originality and impact on consumers and the industry. This year’s finalists showcase what leading financial services innovators in all regions of the world are doing to deliver new value to customers and employees, as well as improve efficiencies and profitability for their organizations. The 2019 BAI Global Innovation Awards finalists are: Best Application of Advanced Technology in a Product or Service Emirates NBD, Dubai, United Arab Emirate

Rimini Street Statement on U.S. Appeals Court Ruling19.8.2019 16:00:00 EESTPress release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today issued the following statement in response to the August 16, 2019 ruling by the U.S. Ninth Circuit Court of Appeals in the Oracle v. Rimini Street litigation which was filed in January 2010, went to trial in 2015, and has been on appeal since: “We are pleased that the Appeals Court again corrected legal errors in the District Court’s post-trial orders, adding to the Appeals Court’s and Supreme Court’s prior reversals in this case and refunds from Oracle totaling over $34 million. Oracle lost 23 of 24 claims it originally pursued against Rimini Street in this case, with the jury finding that Rimini Street engaged in “innocent infringement” on the remaining claim. Rimini Street had voluntarily stopped using the legacy processes that were found to be infringing before the 2015 trial

OpenGate Capital Announces Acquisition of Majority Interest in InRule Technology, Inc.19.8.2019 15:00:00 EESTPress release

OpenGate Capital, a global private equity firm, announced today that it has acquired InRule Technology, Inc. (“InRule”), a market-leading decision management platform and business rules management system (BRMS). OpenGate is pleased to partner with the co-founders of InRule to continue innovation and leadership in the decision management market. This transaction marks the fifth investment completed in 2019 through OpenGate Capital’s second institutional fund. Financial terms were not disclosed. InRule software powers mission-critical decisions for enterprise and government customers. InRule provides an end-to-end, fully auditable platform that acts as a “single source of truth” for enterprises processing complex business rules and decision workflows. Its decision platform drives significant and quantifiable business value across a variety of use cases, including insurance eligibility, mortgage qualification, risk rating and fraud reduction, regulatory compliance, healthcare claims proce

Cogeco Peer 1 Changes Name to Aptum Technologies; Adds New Services to Enhance and Expand Hybrid Cloud Offerings19.8.2019 15:00:00 EESTPress release

Cogeco Peer 1, a managed hosting and cloud services provider, today announced it has changed its name to Aptum Technologies. The move follows the April 2019, acquisition of Cogeco Peer 1 by Digital Colony, a global investment firm dedicated to strategic opportunities in digital infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190819005121/en/ Susan Bowen, CEO of Aptum (Photo: Business Wire) “Aptum means ‘adaptability’ and reflects our heritage and vision for the future,” said Susan Bowen, Chief Executive Officer of Aptum. “As businesses face exponentially increasing volumes of information, and data becomes an integral part of their infrastructure, technology platforms must adapt and harness the power of data to enable better decision making, risk evaluation and customer engagement. We help organizations unlock the potential of their data by providing a robust infrastructure that enables customers to solve compl

Slate Asset Management Announces Minority Investment From Goldman Sachs Asset Management’s Petershill Program19.8.2019 15:00:00 EESTPress release

Slate Asset Management L.P. (Slate), a leading alternative asset management platform with a focus on real estate and real assets, today announced a passive, non-voting minority equity investment from Goldman Sachs Asset Management’s Petershill program, creating a strategic relationship with one of the world’s leading investment managers and positioning Slate for future success. The transaction will have no impact on the control or decision making of Slate. The day-to-day operations and management of Slate will remain unchanged. The investment provides capital that Slate will use to enhance its platform and increase its GP investments in current and future businesses and investment vehicles, further strengthening the firm’s alignment with its clients and investing partners. The investment accelerates Slate’s goal to build the leading independent alternative investment platform in real estate and real assets. As part of the transaction, Slate Founders Blair and Brady Welch have made a lo

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom