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Oil Gains Momentum On Strong U.S. Economic Data

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Putin Claims Russia Could Send Natural Gas To Europe Via Nord Stream 2

Russia is ready to supply gas to Europe on the one undamaged line on the Nord Stream 2 pipeline if the EU wants to start the route, Russian President Vladimir Putin said at an energy forum in Russia on Wednesday.

Russia is ready to deliver additional volumes of natural gas to Europe this winter, but the ball is in the EU’s court to decide, Putin said, as carried by the Russian news agency Interfax.

Putin also said that repairing the Nord Stream 1 and 2 lines that were found to have been sabotaged would only make sense if they will be used later, Interfax quoted the Russian president as saying.  

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Nord Stream 2 was never put into operation after Germany axed the certification process following the Russian invasion of Ukraine. Russia, for its part, shut down Nord Stream 1 indefinitely in early September, claiming an inability to repair gas turbines because of the Western sanctions.

Before the Nord Stream 1 and 2 leaks were detected at the end of September, Putin said that Russia had nothing to do with Europe’s energy crisis and that if Europe wanted more gas, it just had to “push the button” on Nord Stream 2 and “everything will get going,” that is, lift the sanctions on Nord Stream 2.

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A few days later, Stephan Weil, Minister-President of the northwestern German state of Lower Saxony, said that Germany could never rely on Russia for energy supply again, and the Nord Stream 2 gas pipeline project would never go ahead.

Another few days later, the suspected sabotage on Nord Stream 1 and 2 lines in Swedish and Danish territorial waters in the Baltic Sea put Europe on heightened alert over the security of its energy infrastructure.

Norway posted soldiers from its Home Guard to protect energy infrastructure as Western Europe’s largest oil and gas producer, and its Scandinavian neighbors are increasing security following the suspected sabotage of the Nord Stream pipelines.

By Tsvetana Paraskova for Oilprice.com

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