CNBC Transcript: Interview with Alexander Novak, Minister of Energy of the Russian Federation

Following are excerpts from the transcript of a CNBC interview by Geoff Cutmore with Alexander Novak, Minister of Energy of the Russian Federation.

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Geoff Cutmore: I Just want to understand how you see the strategic supply of energy to the west currently. In recent weeks it seems there has been a shift to the Nord stream two pipeline as opposed to running through the south and going via Turkey. Is that a policy from the ministry now? Perhaps not to go through Turkey, to play down and to not focus on that route and to focus on the Nord stream two route to Germany and other western countries? Is this a shift about in the way you think about how you are going to supply the West as things are settling down with the Ukraine?

Alexander Novak: As a matter of fact the Nord Stream 2 was considered long ago by investors, when the Nordstream 1 construction was still in progress. Even then investors were considering the issue of the possibility of the setup of the 3d and 4th thread of it, of the Nord Stream pipelines, which would provide additional volumes for consumers in Germany and in other countries, in France and central Europe.

Read the interview transcript excerpts HERE.