The project of building the Nord stream-2 gas pipeline from Russia to Germany, which involves Gazprom and some European companies, “a bad deal” for Europe. So says Vice-President Joe Biden, reports Reuters.

Gazprom and its European partners agreed on the implementation of the project, which involves laying a pipeline to Germany under the Baltic sea last year.

However, many Eastern European countries and the United States believe that the pipeline may restrict the supply routes and worsen the energy security of the EU, which gets a third of consumed gas from Russia.

In August Gazprom and its partners submitted a joint response to objections of the Polish antitrust authority for merger control concerning the establishment of the joint venture. The applicants decided together to withdraw the notification about the merger that they believe will not affect neither the continued construction of the company 2 the Nord Stream AG gas pipeline Nord stream-2, nor on the timing of construction.

On Monday, the head of Gazprom promised before the end of the year to find a new scheme for financing the construction of the gas pipeline Nord stream-2 after the project partners withdrew the notification on the establishment of the joint venture.

Project Nord stream-2 involves the construction of two pipelines to bypass Ukraine with a total capacity of 55 billion cubic meters of gas off the coast of Russia through the Baltic sea to Germany. Gazprom will own 50% in the project, European companies OMV, BASF, Engie, Shell, Uniper (isolated from E. On) – 10%. The new pipeline is planned to build near the Northern stream.




Biden called “a bad deal for the EU” project Nord stream-2 25.08.2016

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