FILE PHOTO: The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at Chelyabinsk pipe rolling plant owned by ChelPipe Group in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File Photo
MOSCOW, Aug 20 (Reuters) – There are only 15 km (9 miles) left to finish the Nord Stream 2 gas pipeline from Russia to Germany that bypasses Ukraine, Russian President Vladimir Putin said on Friday.
The $11 billion project doubling the capacity of the first Nord Stream pipeline to 110 billion cubic meters a year has been a focal point of tensions between Moscow and the West.
Despite U.S. sanctions, Nord Stream 2 is almost complete and the key question is how Russia will ship its gas to Europe once a current transit deal between Kyiv and Moscow expires in 2024.
After meeting German Chancellor Angela Merkel in the Kremlin on Friday, Putin said Russia planned to fully comply with its obligations on gas transit via Ukraine.
He said Moscow was ready to send gas via its neighbor even after 2024 but Russia needed to understand the scale of demand for its fossil fuel first.
“And for this, we need to get an answer from our European partners on how much they are ready to buy,” Putin told a news conference. “We cannot sign a transit contract if we don’t have supply contracts with our consumers in Europe.”
The European gas market is eagerly awaiting Russian flows via Nord Stream 2 as European gas prices have reached record highs due to low liquefied natural gas supplies.
Putin said future gas supplies were a matter for talks given Europe’s green energy drive.
Ukraine has opposed the construction of Nord Stream 2, saying it was politically motivated.
Before the Putin-Merkel talks on Friday, Ukraine’s state energy firm Naftogaz said the project breached European Union regulations, could not work commercially and should be stopped. (Reporting by Vladimir Soldatkin, Andrew Osborn and Maria Kiselyova; Writing by Tom Balmforth and Andrey Ostroukh; Editing by David Evans and David Clarke)
(c) Copyright Thomson Reuters 2021.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,438 members that receive our newsletter.
Have a news tip? Let us know.
Guyana and Suriname are poised to become significant players in the liquefied natural gas (LNG) industry, according to a recent report by Wood Mackenzie. The report, titled “Can Guyana and...
An are of thunderstorms south of Jamaica is forecast to intensify into Tropical Storm Rafael some time Monday, with further strengthening into a hurricane expected by late Tuesday as it...
STOCKHOLM, Nov 4 (Reuters) – Sweden has rejected applications to build 13 offshore wind farms in the Baltic Sea due to defense concerns, while giving the go-ahead to one on its west coast,...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,438 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
