November 8, 2011 / 10:09 AM / 8 years ago

New gas link from Russia cuts Europe supply risk-E.ON

LUBMIN, Germany, Nov 8 (Reuters) - A new undersea pipeline, due to deliver its first gas from Russia to Germany on Tuesday, will reduce energy supply risks to Europe, which has suffered supply cuts during conflicts over price between transit countries and its Russian supplier, the chairman of E.ON Ruhrgas said in a statement seen by Reuters.

“Nord Stream brings together the interests of energy suppliers and customers, and does so in a mutually beneficial and efficient way. Nord Stream is a long-term solution to the challenges faced by a major gas supplier and its partners and customers,” Chairman Klaus Schaefer said in the statement.

“Natural gas will play a a decisive role in the development towards a sustainable energy supply in Europe over the coming decades by balancing economic viability, climate protection and security of supply in a very efficient way.”

The first phase of the Nord Stream pipeline will handle 27.5 billion cubic metres per year, half the pipeline’s total planned capacity, to be supplied mostly from a field where Russia’s Gazprom and its German partners are already producing gas.

Schaefer said, however, that new supplies could flow through Nord Stream in future.

“Diversification means not only procuring gas from various sources, but also having various supply routes. Nord Stream establishes the first direct link for Germany and Europe with the largest gas fields in Russia and thus offers the potential of new supply volumes.” (Reporting by Alexei Anishchuk; Writing by Melissa Akin; Editing by Douglas Busvine)

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