Putin: Russia to finish Nord Stream-2 gas export pipeline

MOSCOW, Dec 17 (PRIME) -- There are only about 165 kilometers of the Nord Stream-2 natural gas pipeline left to be laid, Russia will finish the project, President Vladimir Putin said on Thursday during his annual news conference.

“There are 160 kilometers left there… slightly more than 160 kilometers for both threads combined, somewhere around 165 kilometers, and that’s it. This has almost been finished. I think we will finish the work,” he said.

It is absolutely obvious for anyone that the pipeline is good for the European economy in general and for the German economy in particular.

“Another option here is to buy a more expensive primary energy source, the U.S. liquefied gas, at a price that is 20% higher than our pipeline gas. What does it mean? It reduces competitiveness of the German economy and raises prices for the households. That is it, and it is an absolutely obvious thing. You don’t need to be an economist or a gas industry worker to see that,” he said.

The German government is not interfering with the project, but wants it to be finished, he added.

He also expressed hope that the new administration of U.S. President-elect Joe Biden will act fairly and not exert pressure on their European partners over the pipeline.

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom is implementing the project together with Germany’s Uniper and Wintershall, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

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