Nord Stream 2 AG assesses Europe's profit from pipeline operation

 Nord Stream 2 AG assesses Europe's profit from pipeline operation

European gas consumers will save 8 billion euro annually if Russia’s North Stream 2 gas pipeline starts operation in 2020, Izvestia writes citing the press service of Nord Stream 2 AG.

"If the gas pipeline is completed by late 2019 and is put into service in 2020, European families will get access to a source of gas with lower prime costs and save 8 bln euro per year. This will happen since prices will decline by 13%," the press service said.

According to the company. by mid-April, more than 1,000 km of the gas pipeline’s two legs have been built and presently its construction is underway in Russia, Finland, Sweden and Germany. 

The company emphasizes that delaying the launch is not advantageous for anyone because the lack of access to cheap natural gas will increase prices across Europe. For each day of delay, European citizens and industrial enterprises will be forced to pay 20 million euros, the company's press service added.

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