Uniper Confirms US-German Deal Cut Risks for Nord Stream 2

MOSCOW (Sputnik) - German utility giant Uniper, a western financial backer of the Nord Stream 2 gas pipeline, confirmed in a report on Wednesday that last month's US-German deal reduced the risk of construction delays or non-completion.

"The main risk for the completion of the project are actual and potential US sanctions. On July 21st, the USA and Germany have come to an agreement on Nord Stream 2, Ukraine and Climate Protection. Based on this probability for further project delays or even a non-completion of the pipeline is decreasing," it read.

The report on Uniper's operating business reaffirmed that the Dusseldorf-based utility continued to act in line with US sanctions, while Nord Stream 2 AG, the gas link's operator, "continues to confirm that they are working to complete the project." Nord Stream 2 AG expects to finish laying pipes by the end of the month.

The US-German deal implies the completion of Nord Stream 2 without the threat of American sanctions. Among the conditions stipulated in the deal, Germany vowed to prevent Russia from "using energy as a weapon" and to use all possible leverage to prolong Russian gas transit through Ukraine.