Nord Stream gaining momentum?

July 17, 2009 at 11:37 AM   |   0 comments

MUNICH, Germany, July 17 (UPI) -- The Nabucco natural gas pipeline to Europe is not a source of envy for Moscow as Russian President Dmitry Medvedev lobbies for the rival Nord Stream in Germany.

Medvedev met with German Chancellor Angela Merkel in Munich to discuss a variety of energy and manufacturing deals, particularly the Nord Stream gas pipeline.

Nord Stream would travel through the Baltic Sea along a dual route to Germany. It is part of an effort by Moscow to diversify its energy transport options to Europe.

His visit with Merkel comes on the heels of a milestone intergovernmental agreement on the Nabucco pipeline to Europe, which could sideline Russia from the regional energy sector.

Medvedev, however, said he was "not jealous" of Nabucco as the project faces financial obstacles and challenges in securing its gas supplies, the Financial Times reports.

The Russian president welcomed Finnish support for the Nord Stream project, expressing his desire for Sweden to follow suit.

Nord Stream could bring Russian gas to Germany as early as 2011, but pipeline construction is plagued by the environmental concerns of Baltic littoral states.

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