English translation of an article published today by the Dutch FT
Dutch companies hit by US sanctions against Nord Stream 2
Dutch FD: From our editor: 23 Dec 2019
In brief
- President Trump has announced sanctions for the construction of the Russian gas pipe Nord Stream 2.
- The measure affects the Dutch offshore group Allseas and Shell.
- Furious reactions about internal affairs interference from Germany and Brussels.
US President Donald Trump announced sanctions from Friday to Saturday against the construction of Nord Stream 2, the gas pipeline that runs from Russia to Germany. The project should be operational by mid-2020. 2100 kilometers of the gas pipeline is already finished, about 300 kilometers of pipelines are still missing.
A variety of international companies are involved in the project and are likely to be affected. Also Dutch companies. For example, the sanctions appear to be aimed particularly against the Dutch-Swiss offshore company Allseas by the Dutchman Edward Heerema. That immediately stopped its work for Nord Stream 2 on Saturday.
Nord Stream 2 contractor, Swiss-Dutch company Allseas, announced on Friday it had suspended pipe-laying activities. Nord Stream 2, which aims to double the Nord Stream route’s existing capacity of 55 billion cubic meters (bcm) of gas a year, is owned by Gazprom, which is financing half of the project worth about 9.5 billion euros ($10.5 billion). Other partners in Nord Stream 2 are Austria’s OMV, the German firms Uniper and Wintershall, Anglo-Dutch energy major Royal Dutch Shell…
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18 December 2019, 15:02 UTC
