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Nord Stream 2: pipeline financier hopes for a "speed record" when laying pipes

2020-12-09T20:37:38.182Z


Despite US sanctions, Russia continues to build the controversial Baltic Sea pipeline. However, the time for completion is running out, warns a European donor.


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Photo: Stefan Sauer / dpa

The press conference was actually about the situation of German companies in Russia - but then there were also questions about the completion of an explosive Russian energy project: The operating company of the controversial Baltic Sea pipeline Nord Stream 2 informed its financial investors about the further construction of the gas pipeline, which was stopped a year ago.

He himself had been informed that the AG would resume its work in December, said the head of the Austrian energy company OMV, Rainer Seele, at a press conference.

“But I have no knowledge of what kind of laying activities are being done when.

So I don't have the detailed knowledge of it, ”said Seele, who is also President of the German-Russian Chamber of Commerce Abroad.

The AHK had invited to the appointment to present its business climate survey among German companies with business in Russia.

Stricter environmental regulations

He doesn't expect any more financial inquiries from the AG, said Seele.

In the course of the construction stopped a year ago due to US sanctions, however, the billion-dollar project became more expensive.

In the port of Sassnitz, however, pipes were loaded, so that preparation for their laying can be seen, said Seele.

"All I know is that this laying work is in German waters this December," he said.

He's keeping his fingers crossed for his colleagues from Nord Stream 2 that they are setting a “speed record” with a different laying technique.

In January, consideration for the flora and fauna is required, said Seele.

At the construction site in the Baltic Sea, several Russian ships were temporarily displayed on sea radar devices, including the »Akademik Tscherski«, which specializes in the laying of pipes.

The region is a bird sanctuary and has stricter requirements at the beginning of the year than now because of the wintering of birds.

The approval from the Federal Maritime and Hydrographic Agency (BSH) is only valid for December.

However, Nord Stream 2 AG has already applied for a new permit for further construction for 2021.

The company itself did not comment on the construction activities.

In addition to OMV, the pipeline investors include the German groups Wintershall Dea and Uniper as well as the Dutch-British Shell and Engie (formerly GDF Suez) from France.

The approximately 9.5 billion euro pipeline is reported to be 94 percent ready.

In future, 55 billion cubic meters of natural gas will be pumped from Russia to Germany every year through the two pipelines of Nord Stream 2, each around 1200 kilometers long.

The USA is against the project and justifies this with the fact that its European partners are too dependent on Russian gas.

However, the USA is also pursuing its own economic interests: It is looking for sales markets for its liquefied gas.

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beb / dpa

Source: spiegel

All business articles on 2020-12-09

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