Nord Stream-2 operator says gas pipe to raise EU energy security

MOSCOW, Mar 21 (PRIME) -- Nord Stream 2 AG, the operator of Russia’s Nord Stream-2 gas pipeline, believes that the pipeline will increase the E.U. energy security and expand competition on the market, the company said in a statement Monday.

The company said that a recent letter sent by ten E.U. countries to the European Commission opposing the project was based on a number of misperceptions.

“Nord Stream 2 takes note of the new letter addressed to the President of the European Commission. We agree that security of energy supply is of key importance, not only for Central and Eastern European countries but for the whole EU. Regrettably, the letter is based on a number of misconceptions and allegations that do not stand up to objective scrutiny,” the company said.

“Nord Stream-2 will increase security of gas supply for the whole EU, and poses no risks to Central and Eastern European countries which are ‘still highly dependent on a single source of energy’,” the company said.

Nord Stream-2 will deliver additional volumes of gas, which can help solve the EU’s declining domestic production, the operator said.

The Nord Stream-2 project envisages construction of two lines of a gas pipeline with a capacity of up to 55 billion cubic meters of gas annually, running from the Russian shore to Germany under the Baltic Sea. Gazprom will hold 50% in the project, while E.ON, BASF, Royal Dutch Shell, and OMV will own 10% each, and Engie will get a 9% stake.

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