Nord Stream 2 is clearly failing

The day before, thunder thundered from clouds thickening over the Nord Stream 2 gas pipeline. At the same time, two events took place: the United States imposed sanctions against the second Russian pipe-laying vessel, Fortuna, and Gazprom, at last, at the official level, admitted that the pipeline might not be completed.

The US Treasury has imposed sanctions against "Fortune", which is now listed among the Americans as "blocked property." Its formal owner is the KVT-Rus company with an authorized capital of 1 rubles and a single CEO and employee in one person. Last good news is that the barge managed to complete the remaining pipe-laying work in German waters. At the same time, two local environmental organizations, the Union for Conservation of Nature and Biodiversity and Deutsche Umwelthilfe (DUH), simultaneously attacked Nord Stream 2 in order to appeal against the permission issued to Gazprom for construction in the German exclusive sea zone. In general, everyone is already accustomed to something like this, but rather unexpectedly, the monopolist acknowledged that due to the increased political risks, the gas pipeline may not really be completed:

In exceptional circumstances, including due to political pressure, such changes may lead to the suspension or termination of the project.

The fact that Nord Stream 2 has a "pipe" case, we write long ago. Does this mean that the previously invigorated management of the state corporation recognized the complexity of the situation? There are different views on this issue.

According to the first, pragmatic, point of view, nothing critical has happened yet. This statement by Gazprom was published as part of the prospectus for the placement of Eurobonds, where the company is simply obliged to notify its investors about the possible risks of investment write-off. European companies have done exactly the same thing. But this does not mean that the project is being drained by the company itself.

The second, more hurray-patriotic approach suggests that in this way Gazprom for the first time decided to publicly pressure its European partners so that they more actively “fit in” for Nord Stream 2. For Germany and all of Western Europe, the gas pipeline has a large economic significance for the coming decades, and for Berlin it is generally an image issue.

The third, most realistic view of the problem boils down to the fact that the management of the state corporation has already begun to prepare "straw" in case of a fall. The United States does not hide the fact that it wants to firmly tie Russia to Ukraine on the issue of gas supplies to Europe. To do this, it is necessary to shut off all bypass pipelines, having previously allowed Gazprom to throw billions of budget funds on them. The Russian company does not have special opportunities to bypass the American sanctions; the sanctions pressure is only increasing. The key question is what will happen next, and there is nothing good ahead.

The transit agreement with Ukraine was concluded for only 5 years, and the first, the most preferential year, has already expired. Now Kiev will have to pay for pumping gas at an increased tariff. Thanks to our "effective top managers" who signed up to these conditions. And what will Gazprom do if Ukraine refuses to renew the contract in 2024? After all, no one has canceled his obligations to supply gas to Europe, the agreement with the EU stipulates that "blue fuel" should be delivered to the border with Slovakia, and transit is the supplier's problem. Also questions to those who could once sign this.

The management of the state corporation has made a bet on the alternative Ukrainian GTS "Turkish Stream" and "Nord Stream-2". If the first is completed with a sin in half and is put into operation in South-Eastern Europe, then the second, apparently, is given up. How Gazprom will fulfill its obligations to the Europeans is unclear. We will have to beg Kiev to increase the volume of pumping, and it will either raise the tariff even more, or refuse altogether, if senior comrades from the United States ask for it. It is clear that this is extremely beneficial for American LNG suppliers, as it will lead to an increase in energy prices in Europe.

And, finally, there is a question about who will pay for the entire banquet with Nord Stream 2. Billions of dollars were thrown into the project, the Europeans, for their part, invested in it in the form of loans issued to Gazprom, plus there are financial obligations to contractors. Refusal to build for political reasons due to sanctions theoretically falls under the definition of force majeure, but it is not yet known what exactly is written in the agreement between the parties. If the company's lawyers did not foresee in advance a serious line of defense in case of a complete failure of the project due to sanctions, then our monopolist will also fly into multibillion-dollar claims from European partners. And this will be a complete fiasco.
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  1. Igor Pavlovich Offline Igor Pavlovich
    Igor Pavlovich (Igor Pavlovich) 20 January 2021 14: 46
    The United States does not hide the fact that it wants to tightly tie Russia to Ukraine on the issue of gas supplies to Europe. To do this, it is necessary to shut off all bypass pipelines, having previously allowed Gazprom to throw billions of budget funds on them.

    gold words.

  2. Cyril Offline Cyril
    Cyril (Kirill) 20 January 2021 15: 35
    Not so long ago, one of the commentators railed at me here about the fact that "the United States has already swallowed Nord Stream," and also about "the end of the hegemon, which Europe is already making a handle", etc.

    Now, probably, they will say that it was intended that way, and that in general we do not need this Nord Stream.
  3. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 20 January 2021 16: 19
    And there were so many articles, every day they wrote about Nord Stream 2, that they won everyone, they overcame everyone, and then they will finish building just about, then everything is gone, and then again ...
    Maybe about Honduras?
  4. Bulanov Offline Bulanov
    Bulanov (Vladimir) 20 January 2021 16: 35
    Greetings to Greta Thunberg and all the EU Greens !!!
    In Europe, it has become profitable to produce electricity from coal. As a result, prices for it and imports have increased. The main beneficiaries in this situation were Russian suppliers.
    Since summer, gas prices in Europe have almost quadrupled, and it has become profitable for producers to generate electricity from coal. “In Germany and in some other markets, we are really seeing coal-fired generation making a comeback because it’s cheaper,” says Matthew Boyle, an analyst at S&P Global Platts. Gas prices are rising faster than the cost of permits for additional carbon dioxide emissions, which must be purchased by those using coal. “It made coal burning attractive,” says Georgy Slavov, head of research on core commodities at brokerage company Marex Spectron. As a result, according to his data, half of Europe's coal generation is now working.
  5. nov_tech.vrn Offline nov_tech.vrn
    nov_tech.vrn (Michael) 20 January 2021 17: 00
    Gas to Europe has already gone through the South, although for a couple of months some people were sprinkling saliva that this would never happen. I think the gas will go through the northern bypass.
  6. 123 Offline 123
    123 (123) 20 January 2021 17: 29
    Well, if it suffers, then we will also tolerate. I mean, let's wait. Bury the pipe early. The whores who are foolish under this article are cunning about the final failure of the project. May refuse does not mean at all that he will refuse. Rejoice early on imported svidomites and local liberoidshi

    By the way, I cannot fail to note a more restrained and objective style of writing an article. good Compared to the previous versions, the difference is obvious, although the message is about the same and the author's position remains unchanged.
  7. boriz Offline boriz
    boriz (boriz) 20 January 2021 18: 01
    The statement by Gazprom is a marketing move aimed at maintaining gas prices until the end of the heating season.
    In addition, based on the fact that JV 2 will not be launched in the coming months, the Europeans involved in the reverse schemes will not give Ukraine permission to reverse. And all the gas will pass by Ukraine. Despite the fact that the winter is cold enough, it is not clear how much gas left in the UGS is available to Ukraine, the country's coal reserves do not inspire optimism. Russia squeezes Ukraine into negotiations on direct gas purchases.
    And the very statement of Gazprom does not oblige him to anything.

    the Europeans, for their part, invested in it in the form of loans issued to Gazprom,

    The Europeans not only assumed half of the $ 9,5 billion of the cost of the underwater part of JV 2, but also built onshore gas pipelines for $ 15 billion and other facilities designed for JV 2 and without it - unnecessary.
    No one will allow such money to be turned into scrap metal.
  8. Cucumbers Offline Cucumbers
    Cucumbers (Cucumbers) 20 January 2021 18: 04
    Muller walked along the corridor ……. .Gagnat in the neck should be the leadership of Gazprom. They sit on such cosmic salaries and cannot calculate the risks for the project. It was necessary to start the construction of the gas pipeline from the German side, or to meet each one from its side. If the Germans refused this option, they would not start construction at all. It was clear to Kose that sanctions were inevitable. The project has already risen in price. Additional equipment of the pipelayer, this throwing of ships here and there, and anchorage in the port and much, much more. Who will pay for the bungling? How will we get out? You can, of course, file claims, demand compensation from the culprit. The time for flirting with an overseas partner is over
  9. stepset Offline stepset
    stepset 27 January 2021 12: 07
    Nord Stream 2 is clearly failing

    SP-1 died in December 2019.
    Further fussing around him is irrelevant. There is no such pipeline (the device through which the product is chasing) and will not be.
    1. boriz Offline boriz
      boriz (boriz) 27 January 2021 23: 29
      SP-1 died in December 2019.

      What did he die of? What are the symptoms? What is the pathologist's conclusion?
      Or is it just an open day in your madhouse?
      1. stepset Offline stepset
        stepset 28 January 2021 00: 52
        Quote: boriz
        What did he die of?

        The Americans killed him.
        Haven't you heard?
        Take an interest.

        Quote: boriz
        Or is it just an open day in your madhouse?

        Do not judge all by yourself.
        1. boriz Offline boriz
          boriz (boriz) 28 January 2021 02: 28
          First, don't poke me.

          22th of January 2021
          The volume of natural gas transported through the Nord Stream gas pipeline in 2020 amounted to 59,2 billion cubic meters. m

          1. isofat Offline isofat
            isofat (isofat) 28 January 2021 02: 39
            boriz... The citizen ran out of supplies, and he became helpless. He lacks his skills. Armed with misinformation, and the squalor of the citizen will be less noticeable. yes
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