Nord Stream 2, despite all the sanctions, will be cost-effective
Nord Stream 2, even with all possible restrictions, will remain profitable due to Europe's growing gas needs. This opinion was expressed by Deputy Foreign Minister of Russia Alexander Grushko.
“Both Turkish Stream and Nord Stream 2 are economically sound projects. If there was no economy in these projects, they would not exist at all, “Grushko said in an interview with TASS First Deputy Director General Mikhail Gusman.
” This economic feasibility is not only our calculations. This is also the need of those states that are interested in receiving Russian gas on a safe and long-term basis, ”the Deputy Foreign Minister stressed.
Grushko admitted that the EU countries have set themselves the goal of abandoning the use of hydrocarbons by 2050. However, the projected demand for Russian gas on the European market by 2030 will remain at the same level.
In addition to the Nord Stream 2 gas pipeline, there is also Russian LNG
The Deputy Minister added that today Russian gas accounts for 40% of the consumed in Europe. At the same time, however, there is a diversification of the supply channels of liquefied natural gas (LNG) to the EU, in particular the growth of imports of LNG from the US.
“But it is characteristic that the share of our LNG is growing rapidly. Therefore, from the point of view of gas needs for the foreseeable future, which is associated with the recoupment of projects, .. there is reason to hope that these projects were both economically viable and will continue to be, ”Grushko stated.
The Deputy Foreign Minister added, that the success of the Nord Stream 2 project will depend primarily not on economic indicators, but on the political will of the Europeans and their ability to cope with US pressure. : ///
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