Putin: Nord Stream-2 is not alternative to South Stream and doesn’t compete with anything in this sense

Nord Stream-2 is not an alternative to South Stream and doesn’t compete with anything in this sense, because it is based on the declining production in Northern Europe and the growing needs of the economy of the northern European countries and central ones, bearing in mind Germany. This was stated by the Russian President Vladimir Putin at the meeting with heads of leading news agencies on Friday.

"We don’t think that Nord Stream-2 is an alternative to South Stream. This is a purely commercial project, the state is not directly related to it. Shareholders agreed about the second string of Nord Stream-2 since the start of Nord Stream -1. And just implemented the first part of the project, implemented it well and effectively, they began to implement the second part, about which, I repeat, they agreed even earlier," - Putin answered the question of CEO and general manager of leading Italian agency ANSA Giuseppe Cerbone.

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