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Kremlin believes Europe will still need Nord Stream 2

However, in the current conditions there are no hopes for the launch of the project, Dmitry Peskov noted

MOSCOW, May 19. /TASS/. The EU countries will still need the Nord Stream 2 gas pipeline, no matter what they say now, Kremlin spokesman Dmitry Peskov told reporters on Thursday.

"This is the very project that Europe will need, no matter what they say there," he stressed.

The Kremlin spokesman stated that in the current conditions there are no hopes for the launch of Nord Stream 2.

"Under the current conditions, of course, it would be reckless and unpromising to rest any hopes on this, given such a short-sighted position of our partners in this project, first of all [position of] Germany, perhaps" he said.

Nevertheless, the Kremlin spokesman noted that "the infrastructure of this project is ready, and will lie at the bottom of the sea for some time in working condition."

About project

On February 22, German Chancellor Olaf Scholz announced that the German government was suspending the certification of the Nord Stream 2 project after Russia recognized the sovereignty of the Donetsk and Lugansk People's Republics. On February 23, US President Joe Biden ordered his administration to impose sanctions on the company - the operator of the Nord Stream 2 AG project and representatives of its leadership in response to the actions of Russia in Ukraine.

In late March, the Stuttgarter Zeitung newspaper reported, citing managing director of the company Matthias Warnig, that Nord Stream 2 AG, the project’s operator, was going to file a bankruptcy petition. The company did not confirm reports about the beginning of bankruptcy proceedings and stated that it had only informed the Swiss authorities about the forced termination of contracts with personnel.

According to the company’s statement on the website of the Swiss Official Gazette of Commerce, the bankruptcy procedure for Nord Stream 2 AG has been suspended until September 2022.

The construction of Nord Stream 2 was fully completed on September 10, 2021. Initially, it was planned to be completed before the end of 2019, but due to Washington’s sanctions, the construction was delayed. The gas pipeline consists of two strings with a total capacity of 55 billion cubic meters per year, which run from the coast of Russia through the Baltic Sea to Germany.