Van Oord Joint Venture Awarded Nord Stream 2 Rock Placement LOI

Van Oord has been awarded a Letter of Intent (LoI) in joint venture with Boskalis for rock placement services for the Nord Stream 2 project. The award was made by the project developer Nord Stream 2 AG and is a part of the construction of the planned twin 1,200 kilometer gas pipelines running through the Baltic Sea, connecting Russia to Europe. The contract value is approximately EUR 250 million, with a 50% share for Van Oord. Contract details are expected to be finalized in the next few weeks.

Rock needs to be installed at specific locations along the pipeline route to level the seabed and to protect the pipelines. The contract scope includes the sourcing of rock from quarries in the Baltic region. The project will be executed in a 50/50 partnership and multiple specialized fallpipe vessels will be deployed in the period 2018-2019.

In 2010 Van Oord was also involved in the first Nord stream project. Van Oord successfully installed the pipeline landfalls near Vyborg in Russia.

About Van Oord

Van Oord is a leading international contractor specializing in dredging, marine engineering and offshore projects (oil, gas and wind). Its head office is located in Rotterdam, the Netherlands. The company’s expertise ranges from design to execution and it has been involved in such noteworthy projects as the port of Rotterdam’s Maasvlakte 2 expansion and the construction of the second Suez Canal, trench dredging and backfilling of pipelines worldwide, and the construction of several offshore wind farms in the North Sea. Van Oord is an independent family business and employs about 4,800 professionals worldwide. Its modern fleet consists of more than a hundred vessels and other specialized equipment.