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Gazprom warns Nord Stream 2 is at risk of cancellation

Russian energy company Gazprom reported in a Eurobond prospectus on Tuesday that the Nord Stream 2 gas pipeline project is at risk of suspension or cancellation due to political pressure.

Source: Anadolu Agency, by  Murat Temizer

According to Russian news agency TASS, Director General of Gazprom Export. Elena Burmistrova said in a statement on Jan. 14 that investments made in projects in the natural gas sector are under political pressure, especially in the European Union.

Gazprom, as a public company, is obliged to inform investors of all potential risks in its Eurobond prospectus ahead of debt papers offer to the market.

Gazprom’s statement said political changes in various regions could affect the projects, and “attitudes of our partners can also change due to tensions between countries.”

With this 94% completed gas project, costing in the region of €10 billion, 55 billion cubic meters of Russian gas is planned for shipment annually to Germany via the Baltic Sea.

The pipeline project has garnered much criticism both from the US Administration and many European countries, including Poland and Ukraine, which say that it will give Russia greater political and economic leverage over Germany and others that are dependent on Russian gas.

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