Nordstream 2 Important for Europe -German Energy Minister

Monday, October 1, 2018

The Nordstream 2 pipeline is important to secure energy supplies and Russia is a safe and reliable provider of gas for Germany, Thomas Bareiss, German state secretary for energy, said at a conference in London on Monday.

The Nordstream 2 pipeline will allow Russia to bypass Ukraine in transporting gas to Europe. Gas is due to start flowing at the end of 2019.

The pipeline has drawn criticism from the United States. U.S. President Donald Trump has said the project increases reliance on Russian gas and has warned Western firms invested in the pipeline that they are at risk of sanctions.

Gazprom and its European partners say the Nordstream 2 project is aimed at ensuring energy security in the region as gas production falls in Europe and as Gazprom remains in conflict with Ukraine.

"I know the U.S. has concerns ... but it is not so easy. For Germany, Russia has always been a safe and reliable supplier for gas," Bareiss told the Bloomberg NEF Future of Energy summit in London.

"Nordstream 2 should go on because the pipeline secures energy supply in Europe," he added.

Nordstream 2 AG will double the existing Nordstream 1 capacity from a current 55 billion cubic metres of gas a year, and is owned by Gazprom, which is taking on half of the planned costs of 9.5 billion euros ($11 billion).

The rest is divided between five European energy companies - Germany's Uniper and Wintershall, Anglo- Dutch group Royal Dutch Shell, France's Engie and Austria's OMV.


($1 = 0.8610 euros)

(Reporting by Nina Chestney, editing by David Evans)

Categories: Energy Pipelines Gas

Related Stories

Eni Advances Major Deep Water Gas Hubs with Dual FIDs

Offshore Tech: Seadrill Adopts igus’ Modular Energy Chains

OSV Market: Asia Pacific Downshifts for the Long Haul

Governments Move to Shield Economies as Oil Jumps 25%

Lamprell Secures ONGC Deal for Subsea Pipeline Replacement Project

China’s Five-Year Plan Focuses on Oil Stability, Gas and Reserves Growth

Velesto Gets Shell’s Deepwater Job Offshore Malaysia

Asia’s Oil Reliance on Middle East Explained

Oil Prices Go Up 3% as Iran Crisis Disrupts Supply

Oil Up 8% as Middle Eastern War Rages

Current News

US to Deploy Amphibious Assault Ship, Marines to Middle East

Indian Gas Tankers Prepare to Sail Through Strait of Hormuz

Offshore Vietnam: Energy Imports Rise as Domestic Production Falls

Eni Advances Major Deep Water Gas Hubs with Dual FIDs

Eni Advances Angola Gas Project, Secures $9B Credit Facility

TVO Customizes Tethered BOP Technology

Eni: New Gas Discoveries in Libya

Petronas Makes New Hydrocarbon Discovery in Southeast Asia

PTTEP Picks Everllence Compressors for Thailand’s Offshore CCS Project

IEA Unleashes Record 400M Barrel Oil Stockpile Release Amid Iran War Disruptions

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com