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Gazprom: Denmark may have to compensate for Nord Stream 2 delay

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Christian Fernsby |
Nord Stream 2 pipeline
European businesses   Nord Stream 2 pipeline

Denmark may be liable to compensate the losses occurring due to possible future arrears in construction of the Nord Stream-2 gas pipeline, Sergei Kuznets, executive of shareholder Gazprom, said at a press conference on Tuesday.

“There is their liability which can arise sooner or later. As far as I know, Nord Stream has already hinted that investment was made and delays in pipeline building because of the route discussion can lead to losses which will have to be compensated sooner or later,” Kuznets said.

Gazprom Deputy CEO Yelena Burmistrova said that the company expects that Nord Stream-2 will be launched on time.

“I understand your concern about the schedule of the project launch, I do not share so far because all works are now under the schedule. We think that the projects will be launched on time,” Burmistrova said, referring to Nord Stream 2, Eugal and the second thread of Turk Stream. “Yes, there are difficulties, but they are working difficulties which can be managed so far.”

She said that Nord Stream-2 will consider adaptation to the new E.U. Gas Directive rules after their full implementation in the E.U. “We will understand how this will work only after the changes to the third package are introduced to the German legislation, which is the accepting side in this case.”

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom is implementing the project together with Germany’s E.ON and BASF, Royal Dutch Shell, OMV, and France’s Engie.

Operator Nord Stream 2 AG said in the third application to the Danish Energy Agency that completion of the construction and the start of its operations could be postponed until the second half of 2020 as Russia has so far failed to secure a construction permit from Denmark. Public hearings in Denmark over the pipeline’s third route will take place on Tuesday.

Burmistrova also said that Gazprom remains in negotiations on future gas transit across Poland, but there are no results so far.


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