• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 1 day Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 13 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 2 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 22 hours NordStream2
  • 2 hours OPEC+ Expects Large Oil Glut In Early 2022
  • 4 hours Ukrainian Maidan after 8 years
  • 1 hour Forecasts for Natural Gas
  • 3 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 22 hours Big Bounce: Russian gas amid market tightness - new report by Oxford Institute for Energy Studies

Gazprom Plans To Start Nord Stream 2 Gas Pipeline This Year

Russia's gas giant Gazprom plans to commission the controversial natural gas pipeline Nord Stream 2 this year, Russian news agency TASS reported on Thursday, quoting a presentation of a Gazprom executive at an energy forum in Russia.  

Last month, Gazprom was said to have warned investors that the Nord Stream 2 project could be suspended or entirely discontinued due to extraordinary circumstances, including "political pressure."

Germany has always looked at the Russia-led project from an economic standpoint, while the United States, several European countries, including the Baltic states, Poland, and the European Union (EU), have expressed concern about Russia using gas sales and its gas monopoly Gazprom as a political tool.

Over the past months, the U.S. has been broadening the sanctions against service providers and those funding vessels involved in the construction of Nord Stream 2 in a fresh attempt to prevent the project from completing. There is still a stretch of the pipeline route to be laid in the sea in Danish waters, but the U.S. is now targeting anyone helping the project's completion in any way.

Last month, the Trump Administration imposed sanctions on the Russian pipe-laying vessel that was expected to complete the construction of Nord Stream 2, while several Western companies are said to have abandoned links to the project for fear of sanctions. 

Related Video: Weaponized Gas or Bridge to Cleaner Fuel? The Nord Stream Game

President Joe Biden "continues to believe that Nord Stream 2 is a bad deal for Europe," White House Press Secretary Jen Psaki said at a briefing at the end of January.

"We're aware that the previous administration imposed new restrictions on activities related to the pipeline under the National Defense Authorization Act, and we will be reviewing those measures," Psaki said. 

Meanwhile, Dmitry Medvedev, former prime minister and now Deputy Chair of Russia's Security Council, said earlier this month that Russia could turn to a national or contract jurisdiction court to protect its interests against interference against the completion of the Nord Stream 2 project.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Mamdouh Salameh on February 12 2021 said:
    The plans by Russia's gas giant Gazprom to commission Nord Stream 2 gas pipeline this year is very good news for Europe’s security of gas supplies, a triumph for German Chancellor Angela Merkel for its stubborn support of the project against threats of sanctions against its country by former President Trump and above all a decisive victory for President Putin’s steely determination to finish the job despite the broadening of US sanctions against it.

    The United States knows full well that the Nord Stream 2 gas pipeline is unstoppable no matter how more sanctions it adds against it. Moreover, Putin’s Russia will never succumb to pressure from the United States and will do whatever it takes to ensure that Nord Stream 2 gas pipeline is completed.

    With 96% of the 1230-km long pipeline already completed and with billions of dollars already spent on constructing it, the prospects of President Putin or Gazprom abandoning the pipeline are unthinkable.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News