2022-02-16 11:40:00
NORD STREAM 2 FOR EUROPE
REUTERS- Feb 15 - Russian President Vladimir Putin reiterated on Tuesday after meeting German Chancellor Olaf Scholz that the Nord Stream 2 gas pipeline, which is still awaiting regulatory approval, is a "purely commercial" project which will strengthen Europe's energy security.
The $11-billion pipeline, which has faced stiff opposition from the United States and some European states, was built last September across the Baltic Sea from Russia to Germany, but has been idle pending German and EU regulatory clearance.
"This is one of Europe's largest infrastructure projects, aimed at significantly strengthening energy security on the continent," Putin said.
"I have said more than once that this project is purely commercial, and that there are no politics, nor any political tinge, here."
Some European politicians and experts have accused Russia of using its energy supplies as a political tool, and called for reducing reliance on commodity exports from Moscow.
Nord Stream 2 would double annual capacity of the existing Nord Stream pipeline via the Baltic Sea to 110 billion cubic metres of gas, more than half Russia's current pipeline gas exports to Europe.
Both projects are designed to bypass Ukraine, once a key route for Russia's gas exports to Europe, depriving Kyiv of billions of dollars in revenues from transit fees.
Putin reiterated that Russia was ready to continue gas transit via Ukraine after 2024 once the current deal is expired, but only if there is demand for gas in Europe and the route is economically viable.
He once again said that Russian gas is much cheaper under long-term deals with Gazprom than on the spot market.
He also welcomed a decision by Gazprom's board to nominate former German Chancellor Gerhard Schroeder to join its board of directors last month
Schroeder is also a board member at Russia's top oil producer Rosneft (ROSN.MM) and head of the shareholders’ committee of Nord Stream AG, the operating company of the existing pipeline.
"I believe this will be beneficial for our cooperation," Putin said.
Scholz said with regard to Nord Stream 2, he did not want to comment further on "the private commercial pursuits of a former chancellor".
"We are committed to ensuring gas transit in Europe works through Ukraine, Belarus, Poland and Nord Stream 1 according to the agreements we have," he said.
"And we also want to ensure peaceful development in Europe, that there will be no military confrontation in Ukraine. If that is the case, it will have far-reaching consequences."
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Earlier:
2022, February, 14, 12:05:00
NORD STREAM 2: NO SANCTIONS
Austrian oil company OMV is one of Russian gas giant Gazprom's partners in the pipeline project connecting Russia to Germany, which has been completed but is not yet operational as it is awaiting German and EU regulatory approval.
2022, February, 1, 14:50:00
NORD STREAM 2 UNDER THREAT
In a recent twist, Berlin is no longer ruling out shelving the pipeline project. But Europe is currently facing a winter energy crunch. Prices of natural gas have skyrocketed in recent months, and stockpiles in EU countries are at a five-year low.
2022, January, 14, 12:15:00
NORD STREAM 2 SANCTIONS FALL
Efforts to impose sanctions on the Nord Stream 2, an undersea gas pipeline from Russia to Germany that would give Moscow enormous leverage over Europe, have long drawn bipartisan support on Capitol Hill,
2021, December, 20, 12:25:00
NORD STREAM 2 FILLING
The operator Nord Stream 2 AG continues the necessary technical preparations for the pipeline ahead of its launch.
2021, December, 17, 12:50:00
NORD STREAM 2: NO DECISION
The Bundesnetzagentur on Nov. 16 suspended the procedure to certify Nord Stream 2 AG as an independent transmission operator while the company transferred assets to the German subsidiary to take over the application.
2021, December, 2, 12:15:00
NORD STREAM 2 SANCTIONS ANEW
The U.S. and some European opponents of Nord Stream 2 say it will make Europe too reliant on Russian gas, allowing Moscow to expand its political, economic and military influence. But other governments say it is vital to secure energy supplies, as gas prices surge and the threat of power outages looms.
2021, November, 25, 15:50:00
NORD STREAM 2 WITHOUT UKRAINE
The current transit agreement between Russia and Ukraine is due to expire at the end of 2024. It came into effect at the start of 2020, and was brokered by the European Commission.
