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Gazprom Does Not Need EC Approval to Build Nord Stream-2 - CEO

© Sputnik / Maksim Blinov / Go to the mediabankGazprom building in Moscow
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According to Gazprom’s CEO, company does not need an approval by the European Commission to begin construction of the planned extension of the Nord Stream gas pipeline running beneath the Baltic Sea into Germany.

Russia’s energy giant Gazprom - Sputnik International
Gazprom Estimates Cost of Nord Stream-2 Pipeline to Germany at $11.2 Bln
MOSCOW (Sputnik) Russia's energy giant Gazprom does not need an approval by the European Commission to begin construction of the planned extension of the Nord Stream gas pipeline running beneath the Baltic Sea into Germany, the company's CEO Alexei Miller said Friday.

"The construction of the sea pipeline does not require any approval by the European Commission," Miller said.

"As to the necessary permits and regulations, they will be handled by a joint venture with our European partners, rather than by Gazprom," Miller stressed.

Gazprom announced on June 18 that it was planning to build two additional strings of the Nord Stream from Russia to Germany in a joint project with E.ON, Shell and OMV with estimated cost of 9.9 billion euros ($11.2 bln).

Miller added that the target markets for Nord Stream-2 gas are the same as for Nord Stream-1, noting that up to 15 percent of all the gas transported via the Nord Steam-1 flows to the United Kingdom.

The first two strings of the Nord Stream pipeline have been operational since 2011 and 2012 respectively, with the annual gas throughput of 55 billion cubic meters.

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