Gazprom: 5.6 billion cubic meters of gas to flow through Nord Stream 2 this year

Gas supplies via the Nord Stream 2 gas pipeline may total 5.6 billion cubic meters this year, Russia’s state-run energy giant Gazprom said in a statement on Thursday.

The project was 99% complete as of July, with the pipe-laying barge Fortuna working at the final section. Gas flows via Nord Stream 2 are expected to begin as early as October, and the volumes may well exceed expectations, according to experts, Russia Today reports.

Deputy head of the Energy Security Fund Aleksey Grivach noted that if supplies via Nord Stream 2 begin in October, the volume of gas deliveries may exceed current expectations.

– It cannot be ruled out that Europe will need to launch both [Nord Stream 2] strings by the end of the year – he added.

The Nord Stream 2 project consists of two pipelines, capable of delivering a total of 55 billion cubic meters of gas per year from Russia to Germany through the Baltic Sea. The first string of the pipeline was completed in June this year, Russia Today adds.

Following Gazprom’s announcement, gas prices in Europe dropped 9.4% early on Thursday to around USD 480 per 1,000 cubic meters, TASS reported citing Intercontinental Exchange (ICE) data. However, prices gained by afternoon trading to around USD 490 per 1,000 cubic meters.

Lubricants Balkans doo Beograd

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