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Nord Stream launch to strengthen Europe’s energy security - Medvedev

November 08, 2011, 14:31 UTC+3

The ceremony of commissioning the pipeline will take place in the coastal town of Lubmin

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BERLIN, November 8 (Itar-Tass) — The launch of the Nord Stream gas pipeline will help to strengthen Europe’s security, Russian President Dmitry Medvedev told a news conference after the talks with his German counterpart Christian Wulff on Tuesday.

“This is a long awaited event that marks stronger relations between Russia and the European Union, and this event will help to strengthen the security regime in Europe, including its energy security,” he said.

The ceremony of commissioning the pipeline will take place in the coastal town of Lubmin, northeastern Germany, later on Tuesday in the presence of German Chancellor Angela Merkel, Russian President Dmitry Medvedev, Dutch Prime Minister Mark Rutte, and French Prime Minister Francois Fillon.

The Nord Stream gas pipeline will be recouped no less than in ten years, Valery Yazev, State Duma deputy speaker and head of the Russian Gas Society, told Itar-Tass, commenting on the ceremony of putting Nord Stream in operation, due to take place on Tuesday in the city of Lubmin, Germany, in the presence of President Dmitry Medvedev and German Chancellor Angela Merkel.

“Such projects take much time to be recouped. The recoupment period may exceed ten years. In this case all will depend on the extent to which the capacities of Nord Stream will be used,” Yazev said. He expressed hope that the gas pipeline would be used by 100 percent of its capacity. “The project was well calculated. It is economically feasible, and it will be recouped within the reasonable time limits. The recoupment will take no less than ten years, however,” he added.

Responding to the question about the recoupment period of Nord Stream, Gazprom spokesman Sergey Kupriyanov said earlier on Tuesday: “It will take time to be recouped. Gas pipelines are not recouped quickly. They are built to function for 30 to 50 years.”

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