Nord Stream Celebrates Its Arrival
The heads of government and other political and business leaders gathered today at Lubmin on Germany’s Baltic Sea coast for a ceremony to commemorate the first flow of gas through the Nord Stream Pipeline.
German Federal Chancellor Angela Merkel, Russian President Dmitry Medvedev, the Prime Ministers of France François Fillon and the Netherlands Mark Rutte, and EU Energy Commissioner Günther Oettinger formally inaugurated the first of Nord Stream’s twin 1,224 kilometre gas pipelines through the Baltic Sea.
When fully operational in late 2012, Nord Stream’s two lines will have the capacity to transport 55 billion cubic metres of Russian gas a year to the EU for at least 50 years.
The €7.4 billion pipeline will run over an area of 1,200 kilometres and will see an initial supply of 37.5 billion cubic metres a year.
Nord Stream’s five shareholders Gazprom, BASF/Wintershall, E.ON Ruhrgas, Nederlandse Gasunie and GDF SUEZ all echoed the heads of government in hailing the significance of the Nord Stream Pipeline for long-term energy security.
Nord Stream pointed to participation of the Commissioner Oettinger as confirmation of the value to Europe. In 2006, the project was designated a “project of European interest” by the European Commission, the European Parliament and the Council of the European Union.
German Economy Minister Philip Roesler said before the ceremony that the pipeline would imporve the security of supply throughout Europe.
"Nord Stream improves the safety of our energy supply—not only for Germany but for Europe as a whole."
Managing Director for Nord Stream Matthias Warnig, and Russian President Dmitry Medvedev also said the pipeline also improved Russia's current gas transit route to Europe.
"This is a long-awaited event which signifies the strengthening of relations between Russia and the European Union," Russian news agency RIA Novosti quotes President Medvedev as saying. "This event will enhance the security regime, including energy security in Europe."
"Nord Stream has provided Russia’s Gazprom with a safe, modern and efficient additional route through which to supply gas to its partners and customers in the EU, in addition to the existing transit routes through Ukraine and Belarus," Mr. Warnig said.
"This new fixed link between Russia and the EU is one of the long-term solutions for the EU’s energy security."
Mr. Warnig further said that the pipeline would help to ensure better gas supply to Europe, even amidst dropping gas production and greater consumer demand.
"To help meet this long-term increase in demand for gas imports, our shareholders have committed to this long-term solution, creating a fixed link for at least 50 years between European markets and Russia’s massive gas reserves."
Chairman of EON Ruhrgas Klaus Schaefer said echoed the belief that the pipeline would improve supply security.
"Nord Stream brings together the interests of energy suppliers and customers, and does so in a mutually beneficial and efficient way. Nord Stream is a long-term solution to the challenges faced by a major gas supplier and its partners and customers," he said
"Natural gas will play a a decisive role in the development towards a sustainable energy supply in Europe over the coming decades by balancing economic viability, climate protection and security of supply in a very efficient way."