Poland views Nord Stream as a waste of money

The Nord Stream pipeline is a waste of European consumers' money, said the Polish Foreign Minster Ra

He said the project, which is being pushed by Russia and Germany despite Poland's disapproval, does not make economic sense. Poland, along with Estonia and Lithuania, fears that the pipeline would increase Europe's direct dependence on Russia for natural gas.

Polish authorities are concerned that the Russo-German consortium led by Russia's Gazprom, is unable to explain why a sea route is better than the cheaper land option.

While Denmark has granted a construction permit for the Nord Stream, Finland is yet to grant the same.

Nord Stream is a planned natural gas pipeline travelling 1,220 kilometres between Vyborg, in Russia, and Greifswald in Germany, under the Baltic Sea. It is designed to transport up to 55bn cubic metres of gas per year. The total budget of Nord Stream is €7.4bn, and it is so far the largest privately-financed infrastructure project. Major shareholders are Russia's Gazprom, Germany's BASF, E.ON Ruhrgas and Netherland's Nederlandse Gasunie.