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Kremlin on Nord Stream: The future of natural gas pipelines is a decision of the shareholders

The Kremlin announced on Monday (6/3) today that it is up to shareholders to decide whether the gas pipelines Nord Stream which were damaged by explosions last year should be closed.

Sources with knowledge of the plans told Reuters last week that the Nord Stream 1 pipelines and Nord Stream 2, built by Russian state company Gazprom, are to be sealed and shut down as there are no immediate plans to repair or restart them.

Responding to a question about this information in the regular briefing of journalists, the representative of the Kremlin Dmitry Peskov he said: “Of course, this is a decision that will have to be made collectively by all shareholders.”

The representative also stated, as reported by the Athens News Agency, that the Kremlin will not issue any recommendations to Gazprom regarding the future of undersea pipelines.

In addition to Gazprom, shareholders in Nord Stream AG, the Swiss-based operator of Nord Stream 1, are Engie, Gasunie, Wintershall DEA and E.ON.

Nord Stream 1 and Nord Stream 2, each consisting of two pipelines, were built by Gazprom to transport 110 billion cubic meters (bcm) natural gas per annum in Germany under the Baltic Sea.

Three of the four pipelines suffered cracks from unexplained explosions in September while one Nord Stream 2 pipeline remains intact.

Gazprom has said it is technically possible to repair the damaged lines, but two sources with knowledge of the plans said Moscow does not see much chance of improving its relations with the West in the near future so that the pipelines are needed.

Europe has drastically reduced its energy imports from Russia over the past year, following Moscow’s decision to invade Ukraine on February 24, 2022.

Source: News Beast

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