Putin says launch of Nord Stream 2 would lower gas prices in Europe

Russian President Vladimir Putin speaks at his annual year-end press conference in Moscow, Russia, December 23, 2021. Sputnik / Mikhail Metzel / Pool via REUTERS

MOSCOW, December 24 (Reuters) – The start of exports via the Nord Stream 2 gas pipeline under the Baltic Sea would lead to lower gas prices in Europe, Russian President Vladimir Putin said on Friday as quoted by local news agencies.

Nord Stream 2, completed in September, has met resistance from the United States and several countries, including Poland and Ukraine, who say it will increase Russia’s influence over Europe.

“The additional gas supplies on the European gas market would surely reduce the price on an exchange, on the spot (market),” Putin said, quoted by the RIA news agency.

The pipeline between Russia and Germany is still awaiting regulatory approval from Berlin and the European Union.

Putin also said that Poland had removed Russia from the management of the Yamal-Europe gas pipeline, which had caused gas prices to skyrocket, the Interfax news agency reported.

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Reporting by Vladimir Soldatkin and Maria Tsvetkova; Editing by Kirsten Donovan and Alexander Smith

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