On June 4, the laying of the first line of pipes of the Nord Stream-2 gas pipeline was completed. This was announced by Russian President Vladimir Putin during the St. Petersburg International Economic Forum (SPIEF), Kommersant reports.
The head of the Russian Federation added that now the laying of the second line continues and will be finished within the next two months. Less than 100 kilometers (62 miles) are left to complete the project, Deputy Prime Minister Alexander Novak said.
Once Nord Stream 2 is finished, it will double the existing route's annual volume to 110 billion cubic meters and increase European energy dependency on Russia.
Putin is sure that the final stretch will be completed as the new U.S. administration seeks good relations with "key partners in Europe".
"I think it should be completed especially given that the new U.S. administration speaks of its intention to build up good relations with its key partners in Europe," Putin said at a forum in St Petersburg. "How can you build good relations with your partners and neglect their interests? This is nonsense."
Germany has advocated for the project, while Ukraine is a strong opponent and sees it as a means for Moscow to exert political pressure. Russian gas supplies to Europe are seen exceeding 200 bcm this year and may rise by as much as 50 bcm in the next decade, Putin said. Ukraine must show goodwill if it wants Russian gas transit to Europe and the related fees to remain, he said.
Gazprom will start filling the first line with gas as soon as Germany grants its approval, Putin said. Gazprom shares rallied after the announcement, adding 0.75% and reaching 274 roubles ($3.76) per share, their highest since mid-2008.