Polish PGNiG says Nord Stream 2 will increase risks to EU gas supply

A road sign directs traffic to the entrance to the Nord Stream 2 gas line landing facility in Lubmin, Germany, September 10, 2020. REUTERS / Hannibal Hanschke

WARSAW, Oct.21 (Reuters) – The Nord Stream 2 pipeline will increase threats to the security of gas supplies to the European Union, Polish gas giant PGNiG (PGN.WA) said in a submission as part of the proceeding certification of the pipeline operator.

Poland, which has taken steps to reduce its dependence on Russian gas supplies, has repeatedly expressed its objections to Nord Stream 2, saying it will further strengthen Gazprom’s dominant position (GAZP.MM ) In the region.

“The current situation on the European Union gas market proves the extent of the risks to security of supply created by the Nord Stream 2 project,” PGNiG CEO Pawel Majewski said in a statement. .

“As there is spare capacity on existing pipelines, Nord Stream 2 does not need to increase gas supply to EU Member States,” he added.

The pipeline, funded by Russian energy giant Gazprom and its European partners, is expected to gain certification from a German regulator to begin commercial sales of natural gas, although the approval process could take several months.

Russia has said that Nord Stream 2, which is expected to double Moscow’s annual gas export capacity under the Baltic Sea to 110 billion cubic meters, could relieve the European gas market, which is struggling with tight supplies and rising prices.

Reporting by Anna Koper; Editing by Kirsten Donovan

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