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Putin says Nord Stream 2 ready to export gas

Nord Stream 2 will significantly increase the amount of gas Russia can export directly to the EU - but critics say it gives the country too much leverage
Nord Stream 2 will significantly increase the amount of gas Russia can export directly to the EU - but critics say it gives the country too much leverage

Russian President Vladimir Putin has said the Nord Stream 2 undersea gas pipeline was ready for gas exports, saying the project would help to lower European gas prices that have hit record levels.

Nord Stream 2, completed in September but awaiting regulatory approval from Germany and the European Union, faces resistance from the United States and several countries including Poland and Ukraine, which say it will increase Russia's leverage over Europe.

Mr Putin said the second stretch of the twin pipeline has been filled with gas.

"I'd like to congratulate Gazprom and your partners in Nord Stream 2 on the completion of work and the creation of this additional large trunk-route and that it is ready for work," he told a government meeting, attended by the head of Gazprom Alexei Miller.

The $11 billion pipeline has been built by the Kremlin-controlled gas giant Gazprom and half of the cost has been paid by European energy companies, namely Germany's Uniper and BASF's Wintershall Dea, international oil major Shell, Austria's OMV and France's Engie.

The certification of the link along the bed of the Baltic Sea from Russia to Germany is not expected before the end of the first half of 2022.

Europe has seen natural gas prices hit record highs as economic recovery and robust energy demand has strained supplies.

Some politicians and experts have blamed Russia for restraining its gas exports as the wait continues for regulatory approval and a broader standoff with the West plays out over Ukraine, which fears Moscow will launch a military invasion. Russia has denied plans to attack Ukraine.

Mr Putin said the launch of Nord Stream will reduce gas prices in Europe as well as in Ukraine by increasing gas supplies.