Wintershall praises Nordic Stream decision

Crude oil and natural gas company Wintershall has voiced its support for the European Parliament's resolution to extract natural gas from the Nord Stream project.

Crude oil and natural gas company Wintershall has voiced its support for the European Parliament's resolution to extract natural gas from the Nord Stream project.

Wintershall, a wholly-owned subsidiary of BASF, based in Ludwigshafen, has supported the Parliament's decision to supply natural gas to Europe, calling it a solution necessary for the security of the supply of natural gas to EU countries in the future.

"The resolution is a good intermediate step not only towards further deepening the dialog with the European Parliament but, above all, with those involved in the project," said Reinier Zwitserloot, chairman of the board of Wintershall Holding AG, in a statement made to the press.

Over the next decade, the supply gap of Europe's natural gas will increase to 110 billion cubic metres of natural gas, according to Wintershall, and the Nordic Stream will go a long way to prevent further inequalities between supply and demand.

The problem is arising due to a rising demand, which is coinciding with a drop in supply.

However, the Nord Stream project will see European consumer markets connected to Siberian fossil fuel deposits, ensuring supply for some time to come.