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Nord Stream 2

US to waive sanctions on firm, CEO behind Russia's Nord Stream 2 pipeline
World

US to waive sanctions on firm, CEO behind Russia's Nord Stream 2 pipeline

  • The department's review, required by Congress, concludes that Nord Stream 2 AG and CEO Matthias Warnig, an ally of Russian President Vladimir Putin, engaged in sanctionable activity but that it was in the US national interests to waive the sanctions, the source said.
  • Russian officials on Wednesday signaled that the move could help mend Washington's fraught ties with Moscow.
Published 19 May, 2021 06:48pm
US shouldn't threaten friends over Nord Stream 2, says Austria's OMV CEO
Markets

US shouldn't threaten friends over Nord Stream 2, says Austria's OMV CEO

  • "This project is of great importance for the security of supply of the European gas market, it is therefore Europe's responsibility to decide," Seele told Austrian newspaper Wiener Zeitung.
  • "We have had a deep transatlantic friendship with the USA for decades. And friends shouldn't threaten each other," he said in an interview published on Saturday.
Published 20 Mar, 2021 07:01pm
Munich Re stops insuring Nord Stream 2 amid sanctions threat
Business & Finance

Munich Re stops insuring Nord Stream 2 amid sanctions threat

  • The US has been threatening sanctions against European companies that support construction of the $11 billion gas pipeline, and Zurich Insurance Group dropped out last month.
  • Munich Re Syndicate has issued the notice of termination to Nord Stream 2," a spokesman said in an emailed statement on Tuesday, referring to the company's subsidiary.
Published 23 Feb, 2021 06:07pm
Russia's Gazprom expects Nord Stream 2 launch in 2021
Business & Finance

Russia's Gazprom expects Nord Stream 2 launch in 2021

  • Around 120 km is left to be laid in Danish waters as well as almost 30 km in German waters, before it makes landfall at the northern German coastal town of Lubmin, near Greifswald.
  • The project has become more politicised after Kremlin critic Alexei Navalny, who was poisoned in August in Siberia and flown to Germany for treatment.
Published 11 Feb, 2021 08:17pm
Germany's Bilfinger drops out of Nord Stream 2 pipeline
Business & Finance

Germany's Bilfinger drops out of Nord Stream 2 pipeline

  • Concerned over looming US sanctions targeting companies associated with the project.
  • Bilfinger had been contracted to develop, deliver and operate process control and safety systems for the controversial pipeline as well as supply a gas-fired heating generation unit.
Published 19 Jan, 2021 09:24pm
Zurich Insurance to drop out of Nord Stream 2 project
Markets

Zurich Insurance to drop out of Nord Stream 2 project

  • Zurich, which has a big US business, is one of around 20 insurers in a consortium backing the project, one person familiar with the situation said.
  • The Nord Stream 2 consortium said on Friday that preparatory work to complete the subsea gas pipeline to Germany in Danish waters can go ahead.
Published 16 Jan, 2021 08:19pm
Nord Stream 2 delays resuming pipeline construction: report
Business & Finance

Nord Stream 2 delays resuming pipeline construction: report

  • The consortium will probably be able to say at the end of January or in early February when work will resume, the spokesman said.
  • The construction of a 2.6-km long portion of the pipeline in Germany's shallow waters was resumed and finished last month with the help of the Fortuna.
Published 15 Jan, 2021 06:10pm
Germany hopes for quick talks with US about Nord Stream 2
World

Germany hopes for quick talks with US about Nord Stream 2

  • Nord Stream 2, designed to double capacity of the existing undersea Nord Stream gas pipeline from Russia to Germany.
  • The group behind the pipeline suspended works in December 2019 due to the threat of sanctions from Washington.
Published 15 Jan, 2021 05:48pm