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Nord Stream-2 pipeline will allow Europeans to save at least 8 bln euros a year — Gazprom

May 15, 15:37 UTC+3 AMSTERDAM

If the global demand for LNG grows, this figure may increase to 24.4 billion euros, the head of Gazprom Export said

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© EPA/Jens Buettner

AMSTERDAM, May 15. /TASS/. The launch of the Nord Stream-2 pipeline will allow European consumers to save at least 7.9 billion euros per year on energy resources, Elena Burmistrova, head of Gazprom Export said at the Flame gas conference.

"German experts have calculated that from 2020 European consumers will save about 7.9 billion [euros] per year, after Nord Stream-2 is completed, and if the global demand for LNG grows, this figure may increase to 24.4 billion euros, "she said.

According to statistics, a third of Germany's population spends more than 10% of their incomes on electricity.

The Nord Stream 2 pipeline is expected to come into service at the end of 2019. The pipeline is set to run from the Russian coast along the Baltic Sea bed to the German shore. Each of the pipeline’s two stretches will have a capacity of 27.5 bln cubic meters. The new pipeline will double the capacity of the first stretch and will basically follow its route. The total cost of the pipeline is estimates at 9.5 bln euros.

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