The inauguration of the Nord Stream gas pipeline increases natural gas security of supply in France and across Europe

abarrelfullabarrelfull wrote on 12 Nov 2011 12:23
Tags: gas gazprom gdf-suez pipeline russia

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Today, the first line of the Nord Stream gas pipeline between Russia and Europe was officially inaugurated by German Chancellor Angela Merkel together with Russian President Dmitry Medvedev, French Prime Minister François Fillon, Dutch Prime Minister Mark Rutte and European Energy Commissioner Günther Oettinger.

Nord Stream is a major accomplishment for Russia, Europe and GDF SUEZ. It creates a new, more direct route for the supply of natural gas from one of the leading production countries to Western Europe. The diversification of natural gas sources and transmission routes guarantees the security of supply for Group customers in France and across Europe.

At the inauguration of Nord Stream, Gérard Mestrallet, Chairman and Chief Executive Officer of GDF SUEZ – which holds a 9% stake in the project – said: “Nord Stream is a gas pipeline of strategic importance for Europe. GDF SUEZ is proud to be taking part in this major project. This technical and industrial feat contributes significantly to the security of supply in North-Western Europe where the Group is one of the leading energy providers and supplies both natural gas and electricity to millions of customers”.

The natural gas supply portfolio of GDF SUEZ is among the most diversified in Europe. It represents an annual volume of 110 billion m3. With Nord Stream, the Group will benefit from an additional 2.5 billion m3 of natural gas per year from Russia.

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