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Nord Stream expansion to guarantee Europe’s energy security — Medvedev

July 24, 2015, 8:59 UTC+3 MOSCOW

Gas deliveries from other suppliers, from the United States, for instance, will make the gas price soar, like "gold, platinum," Russian PM said in an interview with RTV Slovenija

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MOSCOW, July 24. /TASS/. Russian Prime Minister Dmitry Medvedev has said that the expansion of the Nord Stream pipeline capacity will be a factor guaranteeing Europe’s energy security. "You probably know that the companies have just signed the corresponding memorandum on boosting gas supplies through Nord Stream," he said in an interview with the national broadcaster RTV Slovenija ahead of his visit to Ljubljana. "So, Europe’s energy security will be guaranteed."

Medvedev admitted that the Turkish Stream project "is going ahead, maybe not as fast as we would like, but its’ going." "And if this is so, then the idea of a second Nord Stream line to deliver gas from Russia under the Baltic Sea to Germany emerges," Medvedev said.

He recalled the West’s proposals "to overcome energy dependence on Russia." "Let’s overcome. The question is, at what cost?" the prime minister said. "First of all, the interests of European consumers should be taken into account." According to him, gas deliveries from other suppliers, from the United States, for instance, will make the gas price soar, like "gold, platinum." "It’s a question of money, normal commercial considerations," the prime minister said. "We believe that all these projects have a good future of reliable gas supplies to European consumers."

Medvedev stressed that the gas market — is "not a one-way street." This means that Europe is dependent on Russian gas and Russia depends on Europe as well. "If we will supply gas, if we have invested billions of dollars in our fields, in our pipes, we also depend on gas supplies to Europe as you are dependent on gas supplies from Russia," the prime minister said. "This is mutual investment."

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