MOSCOW, Russia - The project to build the Nord Stream 2 gas pipeline is not designed to strip any particular country of transit opportunities, Russian President Vladimir Putin said at the Russia Calling! Forum organized by VTB Capital.
“It’s intended to meet demand for energy, above all in Northern Europe, in view of falling [gas] production in Norway and Britain, and this region’s growing demand,” he said.
“It’s not designed to strip anybody of transit opportunities at all, and I’d like everybody to put this political speculation to one side,” Putin said.
“As regards Ukrainian transit, supplies to Southern Europe, we have separate plans, including with our Turkish partners, our German and French partners. There are a lot of potential participants in future projects out there. Nord Stream 2 has nothing to do with these transits and doesn’t get in anybody’s way,” he said.
Putin answered a question from a representative of Siemens, regarding the German firm’s possible involvement in Nord Stream 2. He made special mention of the approach by German companies to participating in Russian projects against the backdrop of the political situation.
“Germany is one of our biggest partners, and this is not just an issue of the extent of trade turnover but of the penetration of German business into our economy. German businesses come into machine building, power generation, into key spheres, to which we pay and will be paying attention in the future,” Putin said.
“I want to mention the balanced, wise approach of German businesses, which don’t shy away from one side to other due to the political situation, but try to act in a balanced manner, based on its own economic interests. And we value that,” he said.
Ukrainian Prime Minister Arseniy Yatseniuk said on Sept. 10 that the Nord Stream 2 project goes against the European gas market’s declared principles, would cause significant damage to Ukraine and Slovakia, and would perpetuate the European Union’s energy dependence on Russia, and therefore Kyiv expects the European Commission to block this project.
Gazprom and European companies completed the first stage of the Nord Stream pipeline, capacity 55 billion cubic meters (bcm) of gas per year, in 2013. A shareholders’ agreement for a special purpose company to build the third and fourth strands of the pipeline was signed on Sept. 4. The new consortium has six members: Gazprom (51 percent), and also Uniper Infrastructure B.V. (E.ON Group), Shell Exploration and Production (LXXI) B.V. (Shell Group), OMV Nord Stream II Holding AG (OMV Group), Wintershall Nederland B.V. (BASF/Wintershall Holding Group) with 10 percent each and GDF SUEZ Holding Switzerland AG (ENGIE Group) with nine percent. Nord Stream 2 will have the same capacity as the first stage and should be built by the end of 2019.
