ENERGY CORRIDORS "Nord Stream" is operating at maximum capacity

• The developers of the project intend to extend the gas pipeline with two more ramifications

Since yesterday, the "Nord Stream" pipeline is operating at maximum capacity, as announced by Russian president Vladimir Putin.

In his speech, addressed to the attendees for the festivity of the commissioning of the new pipeline, the head of the Russian state said, quoted by "Voice of Russia": "Today an event happened which is very important for us. We have completed the building of the second ramification, and the < Nord Stream > pipeline is beginning to function at maximum capacity. European consumers will be able to receive annually up to 55 billion cubic meters of Russian gas".

"Nord Stream" crosses the territorial waters of five Baltic states, representing an investment of 6.4 billion Euros, money raised through the biggest banks in the world.

Experts say that the project is one of the most successful in Europe and that its construction must continue.

According to president Putin, Russian, Italian, German and Japanese companies participated in the construction of the project.

"Unique technological tasks were accomplished. In less than two years and a half, 2500 kilometers of pipeline were built at the bottom of the Baltic Sea. The works were conducted under difficult conditions, out at sea, at great depths. Innovative methods were used", the Russian president also said, who went on to say that over 100 million Euros were invested in the scientific and ecological studies.

"Nord Stream" can operate in a completely automated manner, under the permanent control of the coordination center, without any intermediary compression stations, which will allow for lower operating costs and lower carbon dioxide emissions.

The new pipeline is capable of meeting Europe's rising demand for energy resources, according to Vladimir Putin.

"The gas will be delivered directly, using the shortest route, which ties the largest Russian gas deposits to the European markets, without any transit risks - in a stable manner and without interruptions. We guarantee it", the Russian president also said, who expressed his hope that the European Union will also contribute to the efficient use of the potential of "Nord Stream".

"Nord Stream" carries Russian natural gas crossing the Baltic Sea towards Germany. The first section of the project was inaugurated in November last year, and has a maximum annual capacity of the 27.5 billion cubic meters of gas. At a maximum capacity, the two sections carry 55 billion cubic meters of natural gas.

"Gazprom" owns 51% of "Nord Stream", "Wintershall" and E.ON of Germany own 15.5% each, and "Gasunie" of Holland and "GDF Suez" (France) - own about 9% each.

Russia is the main provider of natural gas in Europe, over 80% of its exports are transported by Ukraine's network. Conflicts tied to the transit price and the price for the natural gas imported by Ukraine from the Russian Federation have led to several disruptions in Europe's gas supply. This caused Russia to look for alternative transport solutions.

The decision to build a new pipeline was made in 2005, but the shareholder structure was only established in 2010.

The shareholders of "Nord Stream" don't want to stop at this stage of the project, as they intend to expand the pipeline by building two more branches, one of which will go to Great Britain.