If you trust wikipedia - the 'editable' blog...? Lots of fingers in this financial pie.
Costs and financing
According to Gazprom, the costs of the onshore pipelines in Russia and Germany were around €6 billion.
[73] The offshore section of the project cost €8.8 billion.
[74] Thirty percent of the financing was raised through equity provided by shareholders in proportion to their stakes in the project, while 70 percent was obtained from external financing by banks.
[75]
There were two
tranches of fundraising.
[76][77] The first tranche, totaling €3.9 billion, includes a €3.1 billion, 16-year facility covered by
export credit agencies and an €800 million, 10-year uncovered commercial loan to be serviced by earnings from the transportation contracts. A further €1.6 billion is covered by French credit insurance company
Euler Hermes, €1 billion by German loan guarantee program UFK, and €500 million by Italian export credit agency SACE SpA.
Crédit Agricole is the documentation bank and bank facility agent.
Société Générale is intercreditor agent, Sace facility agent, security trustee and model bank.
Commerzbank is the Hermes facility agent,
UniCredit is the UFK facility agent,
Deutsche Bank is the account bank, and
Sumitomo Mitsui Banking Corporation is the technical and environmental bank.
[75][76] The financial advisers were Société Générale,
Royal Bank of Scotland (
ABN Amro),
Dresdner Kleinwort (Commerzbank), and Unicredit.
[78][79] The legal adviser to Nord Stream was
White & Case, and legal adviser for the lenders was
Clifford Chance.
[76]