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Gazprom CEO fears Nord Stream 2 may not be enough to meet Europe’s natural gas demand

June 01, 2017, 15:51 UTC+3

However, there is still time before the Nord Stream 2 goes into operation

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ST. PETERSBURG, June 1. /TASS/. Capacities of the Nord Stream 2 gas pipeline may not be sufficient to cover Europe’s demand if the demand for Russian gas continues growing at the current pace, Chief Executive Officer of Russian gas holding Gazprom Alexei Miler said at the St. Petersburg International Economic Forum (SPIEF) on Thursday.

"There are still two years and a half before the Nord Stream 2 goes into operation. If Russian gas demand growth rates are kept, then the Nord Stream 2 will also be insufficient to meet the growing gas requirements. Decline in supplies by Norway, the Netherlands and Qatar was recorded along with growth of our supplies," Miller said.

Gazprom set records of monthly gas deliveries to Europe last winter, Miller said. "What we see now? Daily deliveries amount to 543 mln cubic meters. These are absolutely winter supplies, no such volumes were present earlier," he said.

Gazprom as a reliable supplier cannot but is happy with such volumes, the top manager said. "However, it means relevant infrastructural projects should be commissioned with deadlines we have set," Miller added.

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