European majors had to Finance the “Nord stream-2” to the entry of sanctions of the USA


Moscow. June 15. INTERFAX.RU European majors – Engie, OMV, Shell, Uniper, Wintershall managed to provide funding for the Nord Stream project 2 (“Nord stream 2”) before the adoption by the Senate of new initiatives against the construction of the pipeline.

“The funds came to the account of the company Nord Stream 2 and are already working on the project”, – said the Deputy Chairman of the Board of PJSC “Gazprom” Alexander Medvedev at a briefing in the framework of the conference “Russian gas society” “Prospects for energy cooperation Russia – EU. Gas aspect”.

As reported, on Wednesday, the U.S. Senate approved a bill that gives the US President the right to impose sanctions against someone who one-time invested from $1 million in the construction of Russia’s export pipelines or provided equipment (including lease), technology and services. The maximum amount for such transactions during the year, $5 million

The bill on additional sanctions is a separate paragraph about the “Nord stream 2”. It is said that the United States will continue to hinder the implementation of the project “because of its disastrous implications for the energy security of the EU, development of the gas market in Central and Eastern Europe, energy reforms in Ukraine”. USA intend to help Ukraine and its allies and partners in Europe “to reduce dependence on Russian energy, especially natural gas, which is used by the Russian government as a weapon to intimidate other countries and influence them.”

“Nord stream 2”

The project “North stream 2” provides for construction through the Baltic sea two pipelines with a capacity of 55 billion cu m. the Project was almost completely copy – and technically, and corporate – is already running “Nord stream”. However, the joint venture with foreign partners failed to create, as the joining of the shareholders of the project company Nord Stream AG 2 foreign partners have been blocked by the Polish authorities.

After that, the partners decided to look for another scheme of cooperation and formalized their participation not through equity and through debt financing. Reformatting schemes in terms of negotiations, the six parties is substantially delayed. It was expected that the funds will go to Nord Stream 2 in March, but managed to do it only in June.

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