EU Energy Head Says Russian-Led Pipeline Hurts Europe Security

Posted December 3, 2015 at 6:55am

The Street reports that “the European Union’s energy policy chief has hit out against Russia’s natural-gas pipeline expansion plans into Germany, suggesting the ‘politically sensitive project undermines energy security in the 28-nation bloc.”  

“‘For us as a primary goal in securing energy security in Europe is diversification — diversification of sources, of routes and of suppliers,’ European Commission Vice-President for Energy Union Maros Sefcovic, told The Deal in a video interview. ‘This project doesn’t fall into that area, so I cannot imagine that this project would be funded by the EU.'”  

“While EU funding for the commercial venture led by Gazprom (OGZPY) and backed by the German government was never anticipated, there have been growing calls for Brussels to intervene.”