PARIS, Oct. 23 (UPI) — Russian natural gas company Gazprom said expanding the Nord Stream pipeline to Europe adds another layer of security to the region’s energy sector.
Russia meets about a quarter of European gas needs, though the bulk of that gas runs through a Soviet-era pipeline network in Ukraine. Conflict and ongoing debt issues between Gazprom and Kiev have created risks to the conventional artery, at times leaving downstream European consumers without gas needed for heat.
Gazprom Chairman Alexei Miller met with French officials to discuss progress on expanding the Nord Stream gas pipeline, which runs through the Baltic Sea to Germany. Russia supplied France with about 15 percent of its gas last year.
“Russia, as a reliable energy supplier to the European economy, will be able to secure gas export to the extent required,” Gazprom said of the meeting. “The parties noted that the Nord Stream 2 project would strongly boost the reliability of gas supplies to Europe.”
Miller in September signed a shareholder agreement on the development of the second phase of the twin Nord Stream pipeline system with his counterparts at German energy companies BASF and E.ON, as well as those from French company ENGIE, Austria’s OMV and Royal Dutch Shell.
Under the proposed expansion, two more lines would be added to the existing network running to the German coast, roughly doubling the pipeline’s net capacity.
The European Union has expressed concern about Russia’s control over the regional market as the company typically controls both the transit networks and the reserves they deliver. Earlier this year, the European Commission said that European member states should secure gas from at least three different suppliers.
Slow growth in the European economy, meanwhile, suggests overall energy demand is down.
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