"175 Billion ㎥ Supply Possible Immediately Upon Operation Approval"
German Authorities "Approval Review Takes 4 Months"
[Asia Economy Reporter Hyunwoo Lee] Russian President Vladimir Putin emphasized that European gas supply could be significantly increased as soon as the German government grants operational approval for Nord Stream 2, the gas pipeline directly connecting Russia and Germany. Since its completion last month, Nord Stream 2 has yet to receive formal operational approval, with the German government stating that the review process would take four months. Recently, as criticism has arisen among European countries accusing Russia of deliberately reducing gas supply, President Putin is interpreted to have expressed dissatisfaction over the delay in approving Nord Stream 2's operation.
On the 21st (local time), President Putin attended the 'Valdai Club' meeting, an international gathering of Russian experts, held in Sochi, a southern resort city on the Black Sea coast. He stated, "The current European market is experiencing a gas shortage of 70 billion cubic meters. This has worsened despite Russia recently increasing gas supplies to Europe," adding, "If German authorities approve the operation of Nord Stream 2 tomorrow, we can start supplying 17.5 billion cubic meters of gas the day after."
President Putin further emphasized, "The Nord Stream 2 pipeline, completed last month, was constructed using modern technology compared to the aging Ukrainian transit pipelines, and it emits significantly less carbon dioxide during gas transportation, making it advantageous from an environmental protection perspective." This statement is interpreted as expressing dissatisfaction with the German government, which has continuously withheld operational approval even after the pipeline's completion.
The Nord Stream 2 pipeline runs under the Baltic Sea between Russia and Germany, connecting to the German mainland. Russia and Germany have been jointly pursuing the pipeline's construction since 2015, completing it last month. The pipeline, approximately 1,230 km in length, is known to have an annual gas transport capacity of 55 billion cubic meters, and it is expected that the approval of its operation will largely resolve Europe's gas shortage issues.
However, German authorities have been reluctant to grant operational approval. According to the Associated Press, the application for pipeline operation approval was submitted in early last month, but German authorities stated that the review and authorization process could take up to four months. The AP reported that diplomatic tensions over the pipeline with the United States and NATO member countries, as well as strong opposition from Ukraine, have led to expectations that operational approval will be granted only after some diplomatic issues are resolved.
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