Putin: Nord Stream 2 to start gas sales to Europe right after its approval

© Reuters.

MOSCOW (Reuters) – Russia can start supplies of to Europe via the Nord Stream 2 pipeline as soon as it gets the green light from Germany, President Vladimir Putin said on Thursday, blaming the gas crisis and record high prices on the EU’s energy policy.

The pipeline, funded by Kremlin-owned energy giant Gazprom (MCX:) and its European partners, is expected to obtain certification from a German regulator to begin commercial sales of natural gas, though the approval process could take several months.

“If the German regulator hands its clearance for supplies tomorrow, supplies of 17.5 billion cubic metres will start the day after tomorrow,” Putin told a televised forum.

The Swiss-based operator of Nord Stream 2 said on Monday that it had filled the first line of the pipeline with “technical” gas.

Putin said Russia was on track to complete filling the second line of the Nord Stream 2 undersea gas pipeline, which runs on the bed of the Baltic Sea to Germany, in the middle to the end of December.

Russia has said Nord Stream 2, which is set to double Moscow’s annual gas export capacity in the Baltic to 110 billion cubic metres, could provide relief to the European gas market, which has been grappling with tight supplies and soaring prices.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.