01:51 GMT +326 September 2018
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    New US Sanctions 'Could Potentially Have Impact' on Gazprom Projects

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    New US Sanctions Law Against Russia, Iran, N Korea Signed: Consequences (91)
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    Russia's energy giant Gazprom has no plans to adjust its strategic priorities following new US sanctions adoption.

    MOSCOW (Sputnik) — In early August, US President Donald Trump signed into law a new batch of sanctions against Russia stipulating, in particular, that the US will continue to oppose the implementation of the Nord Stream 2 gas pipeline project, citing the alleged adverse impact it exerts on the energy security of the EU.

    "The imposed sanctions could potentially have an impact on the implementation of certain projects of the company, and lead to deviations from the expected project outcome, but at the moment they are not grounds for changing strategic directions of activities or adjusting the list of Gazprom's priority projects stipulated by the long-term development program," the report said.

    Earlier, France and Germany spoke out against the bill as one that adversely affects European industries while advancing US commercial interests.

    In April, Gazprom's subsidiary Nord Stream 2 AG signed a deal with French Engie, UK’s Royal Dutch Shell, Austria’s OMV and Germany's Uniper and Wintershall, which agreed to provide part of long-term financing of the gas pipeline project, estimated at 9.5 billion euros ($10.6 billion).

    The Nord Stream 2 project presumes the construction of two gas pipelines with a combined annual capacity of 55 billion cubic meters of gas. The new pipeline is planned to be laid along the existing Nord Stream pipeline route from the Russian coast through the Baltic Sea, on to a hub in Germany.

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    New US Sanctions Law Against Russia, Iran, N Korea Signed: Consequences (91)

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    anti-Russian sanctions, Nord Stream-2, Gazprom, Europe, United States, Russia
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