Continuing 50 years of energy cooperation Nord Stream 2 attends Russia Day 2016

May 31, 2016 | Zug | Nord Stream 2 joined almost 600 people in Rostock, in the German state of Mecklenburg-Vorpommen (MV) on 25 May for Russian Day 2016, an event to discuss economic opportunities between Russia and Germany.

Sigmar Gabriel, Germany’s Minister for Economic Affairs and Energy (SPD) and Denis Manturov, Russia’s Minister of Trade and Industry, were among the guests at the event, and expressed their shared desire to strengthen bilateral economic relations.

Building on an almost 50 year relationship of gas trading, Matthias Warnig, CEO of Nord Stream 2, joined a panel discussion about German-Russian energy relations. He noted that the Nord Stream 2 pipeline is not only an example of Russo-German ties, but a collaboration among energy companies across Europe.

The discussion highlighted the EU’s growing import gap, which is set to rise by 140bcm by 2035. With the Nord Stream pipeline already running at 80 percent of capacity this year, and other existing supply routes unable to fill the gap, the group discussed the need to invest in new infrastructure to meet EU gas demand. With its capacity of 55bcm per year, Nord Stream 2 can cover part of the EU’s future gas requirement, alongside other supply options. Nord Stream 2’s Chief Commercial Officer Reinhard Ontyd, added to the day’s discussions with a more detailed presentation of the Nord Stream 2 pipeline.

Delivering the evening’s keynote speech, Sigmar Gabriel called for a gradual withdrawal of sanctions in favour of greater dialogue between Russia, Germany and the EU, which was supported by the delegates at the event.

Through a day of open discussion, Russia Day 2016 recognised the long-standing cooperation between Russia and Europe, and highlighted the mutual benefits of maintaining this positive relationship in the future.

PDF Download