Economy

Russia’s Nord Stream 2 pipeline ready to pump gas to Europe

Russia’s Nord Stream 2 gas pipeline is ready for operation amid an energy crisis in Europe, Alexei Miller, chief executive of Russia’s gas industry giant Gazprom, told President Vladimir Putin during a meeting.

Gazprom has completed filling the second string of the Nord Stream 2 pipeline with gas, and both strings with sufficient pressure are fully ready for use, Miller said Wednesday.

“Now, of course, it all depends on our partners, the consumers in Europe. As soon as they agree, large additional volumes of Russian gas will immediately start flowing to Europe,” Putin said.

The launch of the Nord Stream 2 pipeline will lower gas prices on the spot market, he predicted.

The 1,234 km pipeline, the world’s longest offshore pipeline, is expected to transport 55 billion cubic meters of natural gas annually from Russia to Germany via the Baltic Sea, the Xinhua news agency reported.

However, the pipeline has been idle, awaiting approval from Germany and the European Union.

On November 16, Germany’s grid regulator said it had suspended the certification of the gas pipeline amid speculation that the project would become a powerful geopolitical lever for Russia.

Moscow has repeatedly said that the gas pipeline is purely economic and beneficial for Europe.

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