EU says halting Nord Stream 2 would not affect bloc’s energy supply

Europe’s energy supply would not be affected if the Nord Stream 2 gas pipeline, designed to bring Russian gas to Germany, was stopped, as the pipeline is not yet operational, the European Commission (EC) said.

“Nord Stream 2 is not working yet, it is not supplying power to Europe. It is not a different energy source, it is a different pipeline for an existing supplier… There is no change in the current situation”, said an EC spokesman.

German Chancellor Olaf Scholz halted certification of the gas pipeline on Tuesday after Russia formally recognized two secessionist regions in eastern Ukraine.

Nord Stream 2 is designed to double the amount of gas flowing from Russia directly to Germany, bypassing the traditional transit country Ukraine on the Baltic Seabed.

Russia currently supplies about 40% of the gas Europe consumes.

Concerns about supply disruptions amid escalating tensions around Ukraine have prompted the EU to seek alternative gas supplies in recent months, from countries including the US, Qatar, Azerbaijan, Nigeria, Japan and Korea. from the south.

European imports of liquefied natural gas hit a record high of some 11 billion cubic meters in January. The Commission has said its models suggest the EU could face a partial disruption of Russian gas supplies this winter, pointing to current storage levels and countries’ contingency plans for supply crises.

Analysts have said a disruption could push up gas prices in Europe, which have soared in recent months and prompted most EU countries to put in place emergency measures to protect citizens from to rising bills.

The EU plans to limit its dependence on fossil fuel imports over the next decade and beyond, by transitioning to renewable energy and using less energy. To meet its goal of fighting climate change in 2030, the EU expects to reduce its consumption of natural gas by more than 25% compared to 2015 levels.

The gas emits CO2 when burned, but is expected to hold a significant part of the EU’s energy mix in the short term as countries prioritize phasing out the most polluting fossil fuel, coal.