Comments Off on Baltic Energy Alliance: Nord Stream 2 needs a restart
Nord Stream 2 fails to adapt to the existing geopolitical situation. The revision of existing course is essential to implement the project.
As reported by Gazprom on 11th of November, its board of directors has approved the termination of the shareholder agreement of Nord Stream 2 AG, the operator of the Nord Stream 2 planned gas pipeline. The decision was made after Polish antimonopoly regulator opposed Gazprom’s planned joint venture with its Western partners- Uniper, Wintershall, Shell, OMV and Engie, argumenting it would restrain competition. This creates a serious issue for Nord Stream 2 as the project financing is at stake and the investment risk gets higher.
Ms. Mara Zepa, Director of Communications, Baltic Energy Alliance: “Although the Nord Stream 2 still might become a success, the situation is very different now since the first string of Nord Stream was put into operation in November 2011. [...]