Contents tagged with Gazprom
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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 …
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U.S. expands sanctions against Nord Stream 2
The U.S. Department of State has expanded sanctions against the Nord Stream 2 pipeline, which is intended to transport Russian gas to Germany.
Sanctions imposed late last year halted construction of the $10.5 billion pipeline. The sanctions affected the pipe-laying vessels for Nord Stream-2. To date, about 160 kilometers of pipeline on the bottom of the Baltic Sea remain to be laid to complete the project.
The updated Protecting Europe’s Energy Security Act (PEESA) expands these restrictive …
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Gazprom accuses the U.S. of trying to oust Russia from EU gas market
Threats of sanctions from Washington against the Nord Stream 2 project are nothing more than attempts to oust Russia out of the European gas market usig non-market instruments, stated the head of Gazprom Export (Gazprom's subsidiary) Elena Burmistrova, speaking at the Flame online conference.
"Unfortunately, there is an additional threat that is increasingly affecting our cooperation - a political confrontation in general and, in particular, the threat of U.S. sanctions against Nord Stream 2," …
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German Uniper admits failure of Nord Stream 2
Construction of the Nord Stream 2 pipeline, halted by U.S. sanctions, may no longer resume, and investments in the 10-billion-euro project may have to be completely written off, according to the IFRS report for the first half of 2020 by the German concern Uniper - one of the five European partners of Gazprom, which financed half of the cost of the project.
"Given the new U.S. sanctions, there is an increased risk that construction will be frozen or completely halted," the report said.
The …
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Poland fines Gazprom for violating antitrust law
The Polish Office of Competition and Consumer Protection UOKiK (Urz'd Ochrony Konkurencji i Konsument) has fined Russian gas giant Gazprom 213 million zlotys, which is equivalent to $50 million USD.
The reason for imposing such a large fine was Gazprom's refusal to provide UOKiK with the data on contracts concluded by its subsidiary Nord Stream 2 with European companies financing the construction of the Nord Stream-2 gas pipeline. In November 2019, the French company Engie was fined 172 …