The controversial submarine gas pipeline Nord Stream 2 is ready for use and Russian President Putin has reiterated that the fully filled pipeline will help to reduce pressure on the European gas market.
Putin spoke about Nord Stream 2 at a government meeting. The head of the Russian state gas company Gazprom was also present at the meeting. Putin stated that the gas can be delivered quickly and that the commissioning of the pipeline will quickly lead to lower gas prices.
Construction of the pipeline, which runs under the Baltic Sea from Russia to Germany, was completed in September. It is currently awaiting approval from Germany and the European Union for commissioning.
11 billion dollars
The construction of the line cost a total of almost 10 billion euros. In addition to Gazprom, the German Uniper and BASF, the French Engie and the Anglo-Dutch Shell are also involved.
It Federal Network Agency, the German energy market regulator, last month known that the companies involved in Nord Stream 2 must be organized according to German law.
Until then, the pipeline will not receive approval from the German authorities. As a result, the chance of a quick commissioning seems to have been lost for the time being. That will not be until next year at the earliest.
Rising political conflict
The Nord Stream 2 has been the subject of a heated political conflict between Russia, the US and Europe for years. Washington argues that Europe is becoming too dependent on Russian gas and is therefore at risk of becoming a victim of energy blackmail. Russia could exert political pressure on vulnerable Eastern European countries, such as Ukraine.
Earlier this month the German Foreign Minister threatened that the pipe will not be commissioned if Russia escalates tensions with Ukraine. In response, the gas price rose by 10 percent.
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