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International Internet Magazine. Baltic States news & analytics Tuesday, 25.09.2018, 02:42

Ashna Rahman: Nord Stream 2 is expensive project Europe doesn't need

BC, Tallinn, 24.11.2015.Print version
The planned expansion of Russia's Nord Stream gas pipeline under the Baltic Sea is an expensive project that is not needed in Europe, which will have an excess supply of liquefied natural gas (LNG) in the near future, Ashna Rahman of ICIS Energy-RBI said in Vilnius on Tuesday, cites LETA/BNS.

According to the analyst, the project has no economic logic, because its use in the future will be limited.


"In a current scenario, not such a needed development in the European gas market. (...) At this point of time when Europe will be flooded with cheaper gas from all over the world, expensive infrastructure is not needed," she said at the Baltic Energy Forum 2015 organized by the business paper Verslo Zinios.


Rahman said that the launch of LNG exports by the United States would likely create a gas surplus in the world.


"There will be more than enough gas to meet the world's needs," she said.


According to the analyst, Lithuania and other European countries will be able to resell gas. The country will be able to resell LNG cargoes to make a profit in the short term.

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