Europe will not do without Nord Stream 2 - German investor
Russian gas is essential for the European economy, especially given the goals of the “energy transition” and decarbonization. Nord Stream 2 will play an important role in strengthening the EU's energy security.
Thilo Wieland, member of the board of Wintershall Dea GmbH, responsible for Russia, Latin America and gas transportation projects, stated this during the discussion “Gas pipeline projects from Russia to the EU: risks and prospects,” PolitNavigator correspondent reports.
“Supplies from Russia are the basis for European energy. And it will remain so in the future. Europe is lucky that most of the world's natural gas reserves are just a pipeline away, in Russia.
As a representative of one of the Nord Stream 2 investors, I clearly say that we are convinced that this gas pipeline is necessary for Europe. We hope it will be completed and put into operation as quickly as possible. Nord Stream 2 will help increase liquidity in the market and strengthen the sustainability of our infrastructure, as well as ensure stable prices.
And I speak not just as a representative of one of the investors, but also as a European business - Nord Stream 2 will have a positive effect on both competitiveness and environmental safety of the EU in the medium and long term, especially considering that its own gas production in Europe is declining, and supplies from other regions will continue to decline. The throughput capacity of Nord Stream 2 is 55 billion cubic meters, and this can compensate for the decrease in supplies.
In addition, the European energy sector is undergoing changes, the European Green Deal and the European Hydrogen Strategy are very important examples. Natural gas is already playing an important role in decarbonization, replacing coal. The energy partnership between Europe and Russia will play a large role in this transition. We are already seeing that Russia is recognizing the potential of hydrogen and is creating a hydrogen economy. I am confident that Russian gas will not lose its importance in the future.
This is why we need Nord Stream 2 – a modern and efficient pipeline system. Nord Stream 2 is a European project with European investors. And this project continues to be supported by a number of European governments,” concluded Thilo Wieland.
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