Contents tagged with Gazprom
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Largest investor leaves Nord Stream 2
Germany's Wintershall Dea no longer plans to provide funding to the Nord Stream 2 project, the company said in a annual report.
"The Group‘s involvement with the Nord Stream 2 project is limited to the provision of loans together with four major European energy companies (ENGIE, OMV, Shell and Uniper). The company‘s loan payments to Nord Stream 2 AG amount to €730 million and were completed prior to the revision of the ‘Countering America‘s Adversaries Through Sanctions Act ‘CAATSA‘ Section 232 …
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Germany considers shutting down Nord Stream-2 if Russia stops gas transit through Ukraine
The German government is considering the possibility of establishing a mechanism which will allow shutting down the Nord Stream-2 gas pipeline if Russia reduces gas transit through Ukraine, reported German newspaper WirtschaftsWoche citing sources.
According to the newspaper, Chancellor Angela Merkel and Foreign Minister Heiko Maas are not considering the full withdrawal from the gas pipeline project.
At the same time, instead of completely stopping the construction, they are considering the …
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U.S. gives Germany ultimatum on Nord Stream 2
For the first time, the United States signaled its readiness to start a dialogue on lifting sanctions from Nord Stream 2, provided that Germany prepares a package of proposals, reported the newspaper Handelsblatt, citing sources in the American administration." The German side should put a package of solutions on the negotiating table," the source of the newspaper said. "Otherwise, we will not be able to solve the Nord Stream 2 problem”.
The Americans demand establishing a mechanism that will …
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U.S. to sanction Nord Stream 2 pipe laying vessel
The U.S. continues to increase pressure on the Nord Stream 2 project, which has already been left without key European participants fearing U.S. sanctions.
Following the expansion of restrictions on insurance, engineering and certification companies, the U.S. authorities are preparing a new sanctions package that will hit the only pipelaying vessel available to Gazprom - the Fortuna barge, Handelsblatt reports, citing its sources.
According to Handelsblatt, sanctions will be imposed on …
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Another European company withdraws from Nord Stream 2 project
European companies continue to flee the Nord Stream 2 project under the threat of US sanctions.
After the U.S. State Department began sending out warnings demanding leaving the construction, "until it was too late", the Danish engineering corporation Ramboll decided to abandon cooperation with Russian gas giant Gazprom.
According to Politiken, the company with a 70-year history, the largest in Denmark in the engineering and architecture sector, decided to stop participating in the …
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Another Nord Stream 2 partner walks away from the project due to sanctions concerns
The Norwegian company Det Norske Veritas (DNV) GL, an international accredited registrar and classification society, will not be able to provide a certificate of compliance for the Nord Stream-2 gas pipeline, which is built by Gazprom's subsidiary Nord Stream 2 AG, reports the Russian news agency RBC citing DNV’s press service.
"DNV GL will stop all compliance verification activities of the Nord Stream 2 pipeline as long as the sanctions remain in force. We are implementing a plan to curtail …
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EU condemns expansion of U.S. sanctions against Nord Stream 2
The European Council condemns the possible expansion of U.S. sanctions against the Nord Stream-2 gas pipeline, stated European Council’s spokesperson for Foreign Affairs and Security Policy Peter Stano, RIA Novosti reports.
The European Union strongly opposes third-country sanctions against European companies doing legitimate business. "The extraterritorial sanctions run counter to the international law. European policy is defined in Europe, not in third countries," Stano said.
He noted that …
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Media: Germany prepares to circumvent U.S. sanctions against Nord Stream 2
Authorities in the German federal state Mecklenburg-Vorpommern are working to establish a climate protection foundation in order to circumvent U.S. sanctions against the Nord Stream 2 pipeline, reported Bild, citing sources. Bild's article is entitled "How Schwesig wants to outsmart the U.S. " (Manuela Schwesig heads the government of this German region).
According to Bild, soon after its opening, the Foundation for Climate Protection will recognize Nord Stream 2 as "the most important element …
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U.S. prepares sanctions against specific companies involved in Nord Stream 2
U.S. authorities have identified companies that will be sanctioned due to their involvement in the Nord Stream project, dpa news agency reported, citing a senior U.S. official.
It is noted that not only companies but also individuals can be sanctioned if they do not stop their operations related to the pipeline.
"We’re in the process of calling a number of these companies to make them aware that they’re likely engaged in sanctionable activity," the official said.
At the same time, he did not …
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German lobbyists ask Washington not to pursue sanctions against Nord Stream 2
The Committee on Eastern European Economic Relations, an organization that lobbies for the interests German companies operating in Russia and Eastern Europe, appealed to prominent representatives of the U.S. Democratic Party with a request to abandon new, extraterritorial sanctions against the Nord Stream 2 gas pipeline. The letter is addressed to the Speaker of the U.S. House of Representatives Nancy Pelosi and other well-known Democratic politicians, reports the newspaper Handelsblatt. As the …