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Nord Stream 2 Project Terms, Cost Unaffected by Amendments to EU Gas Directive

© Sputnik / Sergey Guneev /  / Go to the mediabankETERNO shop of the Chelyabinsk Pipe-Rolling Plant
ETERNO shop of the Chelyabinsk Pipe-Rolling Plant - Sputnik International
In early November, thee European Commission proposed changes to EU gas legislation affecting the Nord Stream-2 gas pipeline. They were drafted to ensure that certain EU energy legislation norms are applied equally to all gas pipelines connecting the territory of the EU with third countries.

BRUSSELS (Sputnik) The amendments to the EU Gas Directive proposed by the European Commission will not affect the terms of implementation or the cost of the Nord Stream 2 gas pipeline project, Paul Corcoran, Chief Financial Officer of Nord Stream 2 AG, the project's operator, told Sputnik on Wednesday.

"No, they won’t impact the schedule, because the Gas Directive is focused upon the operation of the pipeline, the permit process and the construction process of the pipeline are subject to national law in Russia, Finland, Sweden, Denmark and Germany," Corcoran said.

Asked if this would impact Nord Stream 2 plans about the beginning and the end of the pipeline construction process, Corcoran replied: "No."

READ MORE: Nord Stream 2: Gas Has 'Bright Potential' Amid Rising EU Demand – Energy Analyst

Corcoran also told Sputnik that amendments to EU Gas Directive would not affect the cost of the project.

"No. If anything, once [the amendments proposed by the European Commission] are put into law in some form, it will be applicable to the operation of the pipeline, so it won't affect the implementation process of the pipeline, and won't affect the construction costs," he said, answering the relevant question.

The Nord Stream 2 project can get all the necessary permits from all five countries involved by the end of the second quarter of next year, Corcoran said on Tuesday.

He added that the implementation of the Nord Stream 2 project allowed one to say that the construction of the gas pipeline would be completed by the end of 2019.

The Nord Stream-2 involves the construction of two gas pipeline lines with a total capacity of 55 billion cubic meters of gas per year. The pipeline will be laid along the bottom of the Baltic Sea from Russia to Germany.

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