Head of OMV name two major risks to the «Nord stream — 2»

© Photo : Nord Stream 2 Corp. in TwitterСтроительство pipeline Nord stream-2. Archive photoHead of OMV name two major risks to the «Nord stream — 2»© Photo : Nord Stream 2 Corp. Twitter

The participants of the «Nord stream-2» see two main risks for the project: the refusal of Denmark to the building permit and the imposition of US sanctions, said the Chairman of the Board OMV AG Rainer Seele.

«First of all, we are waiting for the last remaining building permit from Denmark. I am convinced that the EU received permission to act according to the law in different countries. And it will happen in Denmark. I’m optimistic, taking into account the fact that the first Nord stream received a construction permit in the waters of Denmark, we have a good chance to get approval from Denmark next year,» he told reporters.

«The second risk, which we consider in the implementation of the project is, of course, the US sanctions that try to affect the financing of the project. Let’s wait and see what happens. We don’t know what kind of sanctions are imposed, sanctions risks exist in many other regions,» he said.

«This, I think, two of the main risks for the project,» said Seele. He said that despite this, work on the construction of «Nord stream-2» continues. «We’re going to continue the construction of the gas pipeline is now built 108 miles, and we will continue to laying. Work is going well,» said Seele.

The project «Northern stream-2» involves the construction of two pipelines with a total capacity of 55 billion cubic meters of gas off the coast of Russia through the Baltic sea to Germany. The new pipeline is planned to be build next to the existing «Northern stream». It will pass through the territorial sea or the exclusive economic zone of the countries located along the shores of the Baltic sea — Russia, Finland, Sweden, Denmark and Germany. Of these countries, the company 2 the Nord Stream AG, the operator of the «Nord stream-2», left to obtain a construction permit only from Denmark.

The sole shareholder of Nord Stream AG 2 is «Gazprom». European partners — Shell, OMV, Engie, Uniper and Wintershall — have committed to financing the «Nord stream-2» in total 50%, ie 950 million euros each. «Gazprom» will provide the other half of the funds to 4.75 billion euros.

Head of OMV name two major risks to the «Nord stream — 2»«Nord stream – 2»