Germany believes that Nord Stream 2 will help stabilize gas supplies to Europe
The Nord Stream 2 project will contribute to stabilizing gas supplies to Europe amid reduced supplies from Norway and the UK, as well as growing consumption of “green fuels,” German Minister of Economic Affairs and Energy Peter Altmayer said at the conference “Competitive Russia – New Paths.”
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| Construction of the Nord Stream 2 Project. Photo: Nord Stream 2 |
"This project is now approved by four out of five countries, is largely implemented and will contribute to stabilizing gas supplies to Europe during a period of reduced gas imports from Norway and the UK, as well as in the context of increasing gas demand in Germany in Western Europe due to energy reforms and the abandonment of coal and nuclear power," said the German Minister of Economics and Energy.
The Nord Stream 2 project envisages the construction of two gas pipelines with a total capacity of 55 billion cubic meters of gas per year from the Russian coast through the Baltic Sea to Germany.
The new pipeline is planned to be built near the existing Nord Stream. It will pass through the territorial or exclusive economic zones of the countries located along the Baltic coast - the Russian Federation, Finland, Sweden, Denmark and Germany. The project is expected to be completed by the end of 2019.
