Nord Stream 2 presses on European natgas pipeline amid US sanctions

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Nord Stream 2 presses on European natgas pipeline amid US sanctions

On Saturday, the 21st of December 2019, partners of Nord Stream 2 AG, a 1,230-kilometre North European gas pipeline project aimed at channelling offshore natgas from Russia to Germany under the Baltic Sea, which involved a swathe of energy supermajors such Russia’s government owned energy giant, Gazprom, German energy company Uniper and Wintershall alongside Dutch Gasuine and French Engie, said in a statement that the group behind the two-lane gas pipeline which would transport natgas from the Russian city of Vyborg and the German city of Greifswald, had been seeking to complete the pipeline as soon as possible amid a US sanction that forced a number of major contractors to cancel their pipe-laying activities.

In point of fact, latest comments from the Nord Stream 2 AG, majority-owned by the Russ Gazprom, came forth a day after the US President Donald Trump had signed off a bill which included a steep sanction on contractors involved in the gas pipeline project, as Washington itself amid a havoc-scale supply glut was seeking to offload more of its liquefied natgas inventories to the European states.

Aside from that, following Friday’s (December 20th) Washington decision to incline a ban on firms laying pipe for the Nord Stream AG 2, a White House spokesman was quoted saying that the 1,230-kilometre gas pipeline project which aims to double up Kremlin’s natgas supply in to Berlin, would make Europe too reliant on Russian suppliers.

Meanwhile, adding that the group partners were working together irrespective of sanctions from any country, Nord Stream 2 said in a statement on Saturday (December 21st), “Completing the project is essential for European supply security.

We together with the companies supporting the project will work on finishing the pipeline as soon as possible,” while German Finance Minister Olaf Scholz said Berlin was “firmly rejecting” the US sanctions, but would not take retaliatory measures in response.