MOSCOW, February 16. /TASS/. The launch of Nord Stream 2 can contribute to stabilization of the European gas market even today, Russian Deputy Prime Minister Alexander Novak said in his article for the Energy Policy magazine.
"Even today, the early launch of Nord Stream 2 can contribute to stabilization of the European gas market," he wrote.
According to him, using 55 billion cubic meters of gas from Nord Stream 2 instead of coal to generate electricity would help the EU reduce total CO2 emissions by 14%, which corresponds to the annual emissions of about 30 million average cars.
Novak noted that reliable energy supply is one of the conditions of stability in the modern world and this can be ensured by maintaining a balance of energy sources and avoiding discrimination of traditional fuel and energy sectors.
"As we could see last year, hasty and premature decisions in a sector, which is fundamental to the global economy, lead to negative consequences for the entire global market, for industry, science, transport, and, most importantly, damage people's well-being," the Deputy Prime Minister added.
About Nord Stream 2
The Nord Stream 2 project envisages the construction of two pipelines with a total capacity of 55 bln cubic meters per year from the coast of Russia through the Baltic Sea to Germany. Its construction was fully completed on September 10, 2021. On December 29, Gazprom CEO Alexey Miller announced that the gas pipeline was completely ready for the launch.
To start pumping gas, Nord Stream 2’s operator has to obtain the green light from the German regulator. On November 16, the Federal Network Agency (Bundesnetzagentur) suspended the procedure to certify Nord Stream 2 AG, which is based in Zug (Switzerland), as an independent transmission operator due to organizational and legal issues. The regulator noted that the certification procedure would remain suspended until the operator’s main assets and human resources were transferred to the ownership of its German subsidiary.
On January 26, Nord Stream 2 AG, operator of the Nord Stream 2, established a German subsidiary, Gas for Europe GmbH, for the German section of the pipeline.
However, certification has not yet been resumed, and the Federal Network Agency reported that a decision on certification of the Nord Stream 2 operator would not be made in the first half of 2022. Russia repeatedly stressed that Nord Stream 2 is a commercial project and is being implemented jointly with European partners.