Nord Stream 2 project will allow reduce the cost of gas transit to Europe twofold, Chairman of the Board of Gazprom, Alexey Miller, said at an annual meeting of shareholders.
“Implementing the project of Northern Stream 2, we will complete the formation of the Northern gas corridor... the estimated costs of gas shipping via the Northern corridor through Nord Stream 2 are up to two times lower than that along the Central corridor through Ukraine”, he said.
The contract for the transportation of gas via Ukraine expires in 2019.
Nord Stream is a gas pipeline, which delivers Russian gas directly to Europe under the Baltic sea. The capacity of the pipeline is 55 billion cubic meters.