8 October 2012, 13:39

Vladimir Putin’s video address on the completion of Nord Stream gas pipeline

Russian President Vladimir Putin opens the second leg of the Nord Stream pipeline.

Vladimir Putin: Ladies and gentlemen, colleagues, friends,

This is an event of major importance for us. The construction of the second line has been completed and the Nord Stream gas pipeline is about to begin operating at full capacity. It will carry up to 55 billion cubic metres of Russian gas to European consumers annually.

Nord Stream is a large-scale multilateral project. The pipeline passes through the territorial waters of five Baltic states. Russian, Italian, German, Japanese companies took part in the construction and equipment delivery. The world's biggest banks have attracted a record amount of investments: 6.4 billion euros.

The pipeline uses unique technological solutions. Two and a half thousand kilometres of pipes were laid along the bottom of the Baltic Sea in less than two and a half years, working under the difficult conditions of the open sea at great depths.

Innovation technologies were applied in the construction. Over 100 million euros were invested in large-scale environmental research. Nord Stream will be operated in an automatic mode from an electronic control centre, without intermediate compression stations, which will reduce operating costs and CO2 emissions.

One of the largest hydrographic studies ever was conducted as part of the preliminary survey. An international team of scientists and engineers examined 2,500 square kilometres of sea floor, created a comprehensive system of environmental monitoring, and ensured the security of the Baltic Sea’s vulnerable ecosystem.

New transparency standards in international cooperation have been established at the design stage: the Baltic countries held over 200 public hearings and conferences analysing socioeconomic ramifications, including for commercial fishing and cultural heritage.

Nord Stream will meet Europe's growing demand for energy resources. Gas will be supplied directly by the shortest route, linking the major Russian gas reserves to European markets without transit risks, steadily and smoothly. We can guarantee this.

Russia has always complied and will continue to comply with its obligations as a secure and predictable fuel supplier to Europe. We hope that the European Union will contribute to the effective use of the Nord Stream’ potential.

Only through joint efforts will we be able to satisfy the interests of producers and consumers, and to strengthen energy security.

I am confident that Nord Stream will make a significant contribution to the economic development of our countries and the entire European continent.

I congratulate you on completing the project and wish you every success.

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