German Media Scares Readers With Russian Nord Stream 2 Pipeline

German Media Scares Readers With Russian Nord Stream 2 Pipeline
Sputnik/ Igor ZaremboEurope10:20 25.02.2018Get short URL



Developed by Russia’s energy giant Gazprom and several major Western European energy companies, the Nord Stream 2 project aims to annually deliver 55 billion cubic meters of Russian gas to Western Europe across the Baltic Sea via Germany.

German consumers may incur additional losses due to the construction of the Nord Stream 2 gas pipeline, Der Spiegel has reported referring to government sources.

According to the magazine, the implementation of the project stipulates the construction of the Nord Stream 2 pipeline’s additional leg in Germany worth about 2.7 billion euros (3.3 billion dollars).

READ MORE: Nord Stream 2’s Economic Advantage ‘Absolutely Obvious’ – Lavrov

The money should be allocated by major German energy companies, which will use the gas pipeline, something that Der Spiegel claimed would prompt them to cover part of their expenditures at the expense of consumers.

The magazine also recalled that some Eastern European countries oppose the implementation of the project which however is supported by the German government.

READ MORE: Washington’s ‘Unfair Competition’ Unlikely to Derail Nord Stream 2 Project

Earlier this month, German Chancellor Angela Merkel underscored that the Nord Stream 2 gas pipeline does not pose a threat to the diversification of supplies.

The Nord Stream 2 project is jointly run by Russia’s Gazprom, France’s Engie, Austria’s OMV AG, Anglo-Dutch Royal Dutch Shell, as well as Germany’s Uniper and Wintershall.

When completed, the pipeline will deliver up to 55 billion cubic meters of Russian natural gas to Western Europe across the Baltic Sea via Germany annually.

The project will run roughly along the same route as the existing Nord Stream pipeline network, which was put into operation in 2011.