Novak: Nord Stream 2 launch to stabilize European gas market

MOSCOW, Feb 16 (PRIME) – The fastest possible launch of the Nord Stream 2 gas pipeline can stabilize the European gas market and reduce carbon dioxide emissions, Deputy Prime Minister Alexander Novak said in a story he contributed to the Energeticheskaya Politika magazine on Wednesday.

"An immediate launch of Nord Stream 2 can help stabilize the European gas market right now. I'll say that the use of 55 billion cubic meters of gas from Nord Stream 2 to produce electric power instead of coal will cut E.U.’s total CO2 emissions by 14%, which represents annual emissions of about 30 million average cars," Novak said.

He added that the prospects of European wind power generation are unclear, because the wind speed in the North Atlantic can fall by 10% by 2100.

“Some experts note that the wind speed in the North Atlantic has been falling for 40 years already and what is most important, the trend will continue,” Novak wrote.

“The wind speed will fall by 10% by 2100. This means that the future of wind power generation increase is unclear.”

Abandonment of traditional power resources will certainly result in worse energy and, perhaps, even political crises, he said.

“We believe only balanced energy sources can guarantee stability of the energy markets in the future” he said.

”This means that artificial abandonment of traditional energy sources, which some countries are trying to impose will inevitably lead to a crisis that will be worse than the current crisis followed by an economic crisis and possibly political crises.”

. Russia expects the E.U. to approve a norm on nuclear power and gas as clean energy sources in six months.

Novak separately said that China will buy gas actively following restriction on coal power generation, and there are risks of a significant steel and aluminum price rise. "China will continue buying natural gas actively supporting the price," he said.  

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