The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Nord Stream 2 pipeline edges closer to Danish deadlock

Mon, 16th Sep 2019 12:59

By Stine Jacobsen

IN THE BALTIC SEA, Sweden, Sept 16 (Reuters) - With each
24-tonne steel pipe laid on the seabed of the Baltic Sea, the
vessel Solitaire is edging closer to what could be a costly
hold-up for the Russian-led gas pipline project which has
divided the European Union.

The crew onboard the Solitaire expect to reach Danish waters
early next month, but Denmark has yet to approve the pipeline,
which is planned to begin transporting natural gas from Russia
to Germany at the end of this year.

"We are now heading for the Danish border and then basically
waiting for the further development of the project to be
continued from the Danish border towards Germany," Captain Kenny
Houben told Reuters.

However, the Nord Stream 2 consortium controlled by
state-run Gazprom told Reuters the project remains on
track and that it remains hopeful Denmark will approve the
pipeline before the Solitaire reaches Danish waters.

"We are (progressing) according to plan and we are
absolutely on the timeline," Nord Stream 2 spokesman Ulrich
Lissek told Reuters onboard the Solitaire vessel.

He added that there were "no major risks or issues" in its
dialogue with the Danish Energy Agency (DEA), which is in charge
of issuing a permit after an environmental assessment.

Any delay of the 1,230-km twin pipeline would create
uncertainty for the firm's partners: Germany's Uniper
and Wintershall, Anglo-Dutch Shell, Austria's OMV
and France's Engie and is also key for the
future of a gas transit contract between Moscow and Kiev.

With a crew of around 400, the 397-metre Solitaire is
welding together and laying the pipeline on the seabed at a
speed of 3-4 km per day.

Nord Stream 2 has warned the pipeline could be delayed by up
to eight months and cost an extra 660 million euros ($731
million) due to hurdles in getting a Danish permit.

The Danish Energy Agency has completed public hearings and
is addressing the responses but it declined to say when a
decision would be announced.

If a permit is obtained, Nord Stream 2 will have to wait
another month before it can be used, according to Danish law,
which gives parties the possibility to complaint up to four
weeks after the decision, said the DEA.

Access to cheap Russian gas to offset declining Dutch
production takes priority for nations in northern Europe,
particularly Germany, but east European countries fear the
pipeline will make the EU a hostage to Russian gas while the
United States has been a vocal critic as well.

(Reporting by Stine Jacobsen; editing by David Evans)

More News
10 Dec 2021 12:17

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

Read more
10 Dec 2021 10:41

Shell shareholders vote for move to Britain -preliminary results

AMSTERDAM, Dec 10 (Reuters) - In a preliminary result, Royal Dutch Shell shareholders on Friday voted in favour of a plan to move the company's headquarters and its tax home to Britain.Chairman Andrew Mackenzie announced the preliminary results, ...

Read more
10 Dec 2021 10:17

Siccar Point CEO says Cambo oilfield project paused after Shell exit

LONDON, Dec 10 (Reuters) - Siccar Point CEO Jonathan Roger said on Friday that Royal Dutch Shell's decision last week not to progress the Cambo oilfield project in the British North Sea means the development will have to be paused.Siccar, which ow...

Read more
10 Dec 2021 10:08

UPDATE 1-Royal Dutch Shell shareholders expected to approve move to London

* If approved, Shell's move expected in early 2022* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Updates with colour from meeti...

Read more
10 Dec 2021 00:25

UPDATE 2-Royal Dutch Shell shareholders back plan to shift to London

* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Recasts with shareholder vote)By Toby Sterling and Ron BoussoROTTERDAM/LONDON, D...

Read more
9 Dec 2021 13:37

S.Africa energy minister defends Shell's planned seismic blasting on Wild Coast

* S.Africans protest against oil search in pristine stretch* Area home to whales, penguins, dolphins, seals* Objectors want Africa to stay poor, Gwede Mantashe saysBy Tim CocksJOHANNESBURG, Dec 9 (Reuters) - South Africa's energy minister defended o...

Read more
9 Dec 2021 10:10

UPDATE 2-European shares fall again on Omicron worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deutsche Bank skids after DoJ violation report* Defensive sectors cap losses* Investors eye U.S. CPI data due Friday (Updates to close)By ...

Read more
6 Dec 2021 16:58

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

Read more
6 Dec 2021 12:16

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

Read more
6 Dec 2021 12:13

UPDATE 4-BP says Brent benchmark reform should include U.S. oil, dump Brent

(Adds background)By Julia PayneLONDON, Dec 6 (Reuters) - BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have eva...

Read more
5 Dec 2021 13:57

S.Africans protest against Shell oil exploration in pristine coastal area

By Siyabonga SishiPORT EDWARD, South Africa, Dec 5 (Reuters) - South Africans took to their beaches on Sunday to protest against plans by Royal Dutch Shell to do seimsic oil exploration they say will threaten marine wildlife such as whales, dolphi...

Read more
3 Dec 2021 16:05

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
3 Dec 2021 14:31

Nigeria's Bonga oil export terminal in maintenance until next week - Shell

LONDON, Dec 3 (Reuters) - Nigeria's Bonga crude oil export terminal is undergoing planned maintenance until next week, operator Shell said on Friday.Bonga is typically one of the larger export streams from Africa's largest oil producer. It was sch...

Read more
3 Dec 2021 12:06

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

Read more
3 Dec 2021 10:19

Shell wins court case to start seismic surveys offshore South Africa

CAPE TOWN, Dec 3 (Reuters) - A South African high court on Friday struck down an urgent application brought by environmentalists to stop oil major Royal Dutch Shell starting seismic surveys to explore for petroleum systems off the eastern seaboar...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.