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European Parliament's resolution on Nord Stream-2 should be given legal assessment — Novak

March 15, 14:46 UTC+3 SOCHI
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© Nord Stream 2/Thomas Eugster

SOCHI, March 15. / TASS /. The resolution of the European Parliament, which calls to curtail the construction of the Nord Stream-2 gas pipeline, needs legal assessment, Russian Energy Minister Alexander Novak told reporters on Friday.

"All questions that concern adopted resolutions should be studied legally, what consequences they may entail. I think that only then it will be possible to talk about it. All these questions are very subtle, it is important to understand the wording," Novak said, answering the question, can the resolution of the European Parliament influence the implementation of Nord Stream 2 and delay the start date of gas supplies through the pipeline?

On March 12, the European Parliament approved a resolution on political relations between the EU and the Russian Federation, which contains proposals to stop the Nord Stream 2 project, and Russia is no longer recognized as a strategic partner of the European Union.

Novak reminded that "Nord Stream - 2" is a commercial project and concerns the issues of improving the energy security of Europe, so it must be implemented. "I can say that at the moment, the construction is underway, continues, and, in my opinion, since [construction] is of commercial interest and concerns issues of providing Europe with gas and energy security, it should be implemented," the minister noted.

About project

The Nord Stream 2 project will consist of two gas pipeline lines with a total capacity of 55 billion cubic meters of gas per year from the coast of Russia through the Baltic Sea to Germany. The total capacity of the project is 55 billion cubic meters of gas per year. The cost of construction is estimated at 9.5 billion euros.

The pipeline will bypass transit countries - Ukraine, Belarus, Poland and other Eastern European and Baltic countries through exclusive economic zones and territorial waters of five countries - Russia, Finland, Sweden, Denmark and Germany. Only Denmark has not issued permission for the construction. According to the statements of the Prime Minister Lars Lokke Rasmussen, he is going to block or postpone the implementation of the project.

Nord Stream 2 AG, which is the project’s operator, expects to get the permit from Denmark by the end of 2019.

The sole shareholder of Nord Stream 2 AG is Gazprom. Gazprom's European partners - Wintershall, Uniper, OMV, Engie and Royal Dutch Shell - will finance 50% of the project.

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