If the Nord Stream 2 gas pipeline is certified, Gazprom may increase natural gas supplies to the European Union by 55 billion cubic meters.
Russian President Vladimir Putin said that if the Nord Stream 2 gas pipeline is certified, Gazprom could increase natural gas supplies to the European Union by 55 billion cubic meters. The President made this statement at the Valdai Forum in Sochi, answering a question about the possibility of increasing gas supplies to the EU.
“Is it possible to increase (gas supplies – Expert)? Yes, it is possible – via Nord Stream 2, and the first pipe of Nord Stream 2 is filled with gas, and if tomorrow the German regulator gives permission for delivery, the day after tomorrow, the delivery of 17.5 billion cubic meters will begin. By the end of this year – in December, mid-December, end of December – technological work on filling the second gas pipe of Nord Stream 2 will be completed. In total, this is 55 billion cubic meters … As soon as the permission of the German regulator is received, the next day we will start deliveries”, Putin said.
In addition, the Russian president named the reasons for the gas shortage in the EU. Firstly, this is the decision of the European Commission to abandon long-term contracts and purchase gas on the exchange, secondly, there was a 22.5% drop in gas production in the EU in the first half of 2021, and thirdly, American and Middle Eastern suppliers of liquefied gas undersupplied to the EU 9 billion cubic meters, reorienting to the Asian and Latin American markets. All this happened against the backdrop of cold winters and hot summers, which led to an increase in gas and electricity consumption. In addition, due to calm weather, the production of electricity from wind farms has significantly decreased. Putin estimated the gas deficit on the European market at 70 billion cubic meters. “This is a man-made result of the economic policy of the European Commission,” the president summed up.
Putin recalled that Gazprom this year has increased gas supplies to the EU by 7.8%, or 11 billion cubic meters.