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

TIMELINE-Nord Stream 2: Russia to Germany gas pipeline's difficult birth

Fri, 11th Dec 2020 15:57

(.)

Dec 23 (Reuters) - The Russia-led Nord Stream 2 consortium
is expected to start laying gas pipes in Danish waters from Jan.
15, a Danish maritime regulator said, after construction was
suspended for a year because of the threat of U.S. sanctions.

Led by Russia's Gazprom with Western partners, the
pipeline, which would double the capacity of the existing Nord
Stream 1 link, is more than 90% completed and scheduled to
operate from early 2021.

The project has split the European Union, with some members
saying it will undermine traditional gas transit state Ukraine
and increase energy reliance on Russia.

The United States, keen to increase liquefied natural gas
(LNG) sales to Europe, also opposes the pipeline and has
targeted some companies involved with sanctions.

Here are some key dates in Nord Stream 2's development:

2011

November: Nord Stream 2's forerunner, Nord Stream 1, a
consortium mainly led by Gazprom, starts deliveries through a
twin pipeline system to Europe under the Baltic Sea. The
system's 55 billion cubic metre (bcm) capacity is equivalent to
enough gas to heat 26 million households.

Gazprom and Western partners start looking into expanding
the system with another two pipelines to add a further 55 bcm of
capacity. The project is estimated to cost 9.5 billion euros
($11.3 billion).

2015

June: Gazprom, Royal Dutch Shell, E.ON,
OMV, BASF and ENGIE agree to
build Nord Stream 2. [https://reut.rs/3haWiiv
]

2016

March: Eight EU governments - the Czech Republic, Estonia,
Hungary, Latvia, Lithuania, Poland, Slovakia and Romania -
object to the project, warning it could have “potentially
destabilising geopolitical consequences."
[https://reut.rs/2FfVPyF]

2017

April: Nord Stream 2 AG signs financing agreements with
ENGIE, OMV, Shell, E.ON offshoot Uniper, and BASF's
subsidiary Wintershall. [https://reut.rs/2FgjZZZ
]

2018

January: Germany grants Nord Stream 2 a permit for
construction and operation in German waters and landfall areas
near Lubmin in Mecklenburg-Vorpommern.

September: Pipe-laying operations start in the Baltic Sea.

2019

January - The U.S. ambassador to Germany warns companies
involved in the construction that they could face sanctions if
they stick with the project. [https://bit.ly/2FhqaN3
]

December - Swiss-Dutch company Allseas suspends its
pipe-laying activities in anticipation of U.S. President Donald
Trump signing a defence policy bill which includes sanctions on
firms laying pipes for Nord Stream 2.

December: Trump signs the bill.

2020

January: Russian President Vladimir Putin says he hopes Nord
Stream 2 will be finished by the end of the first quarter of
2021. German Chancellor Angela Merkel says she believes the
project is legitimised by European regulation and therefore
should be completed. [https://reut.rs/2ZnOML8]

May: Germany's energy regulator declines to grant a waiver
of EU gas directives to the operators of the Nord Stream 2
pipeline that require separate operators for the production,
transport and distribution of energy on German territory.

May: An EU court throws out a challenge to EU gas rules from
the operators of the Nord Stream 1 and Nord Stream 2 pipelines,
saying it was up to individual members states to enforce them.

June: Poland starts proceedings against Gazprom, alleging
the company has not cooperated with the country's anti-monopoly
proceedings regarding Nord Stream 2. [nW8N28600O

August: Poland fines Gazprom 213 million zloty ($57 million)
for a lack of cooperation in the matter.

Sept. 3: Pressure mounts on Merkel to reconsider the
pipeline, after she says Navalny was poisoned with a
Soviet-style nerve agent.

Sept. 7: Merkel's spokesman tells German newspaper Bild am
Sonntag she has questioned the project.

Sept. 11: The premier of the German state of
Mecklenburg-Vorpommern, where Nord Stream 2 would come ashore,
says the pipeline should not be used to punish Moscow over the
Navalny case. Merkel wants to agree a response with EU
partners.

Sept. 15: Data shows a Russian ship sailed for the Nord
Stream 2 project's supply base in Germany.

Sept. 23: The world's largest group of shipping insurers
says it will not insure vessels involved in the Nord Stream 2
and TurkStream gas pipeline projects because of the threat of
U.S. sanctions.

Oct. 1: Denmark gives the Nord Stream 2 consortium
permission to operate in Danish waters.

Oct. 7: Poland fines Gazprom more than 29 billion zlotys
($7.6 billion) for building Nord Stream without Warsaw's
approval.

Nov. 4: Gazprom files an appeal in a Polish court against
that fine.

Nov. 28: Nord Stream 2 says it plans to resume pipe-laying
work on a 2.6 km stretch of the pipeline before the end of the
year.

Dec. 1: The maritime authority in the German city of
Stralsund informs shippers about pipeline-laying activities from
Dec. 5 through Dec. 31 in the Baltic sea.

Dec. 3: U.S lawmakers unveil a new U.S defense policy bill,
targeting companies and individuals providing help to the
project.

Dec. 11: Nord Stream 2 says Fortuna vessel has resumed
pipe-laying work and would lay a 2.6 km section of the pipeline
in the German Exclusive Economic Zone.

Dec. 22: The Danish Maritime Authority issued notification
of pipe-laying works for the gas pipeline from Jan. 15,
according to a publication on the regulator's website.
(Reporting by Tommy Lund and Bartosz Dabrowski in Gdansk
Editing by Mark Potter and David Goodman
)

More News
3 Dec 2021 09:44

LONDON BROKER RATINGS: Jefferies ups SSE, AJ Bell; Deutsche likes BP

LONDON BROKER RATINGS: Jefferies ups SSE, AJ Bell; Deutsche likes BP

Read more
3 Dec 2021 08:43

LONDON MARKET OPEN: Stocks rebound on oil and travel; US jobs ahead

LONDON MARKET OPEN: Stocks rebound on oil and travel; US jobs ahead

Read more
2 Dec 2021 18:54

UPDATE 2-Shell scraps plans to develop Cambo North Sea oilfield

(Adds detail)By Ron Bousso and Shadia NasrallaLONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists seeking to ...

Read more
2 Dec 2021 18:54

UPDATE 1-Shell scraps plans to develop Cambo North Sea oilfield

(Adds Siccar Point statement, background)LONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo North Sea oilfield, which became a lightning rod for climate activists seeking to halt Britain's devel...

Read more
2 Dec 2021 18:54

UPDATE 3-Shell scraps plans to develop Cambo North Sea oilfield

(Adds investor comment)By Ron Bousso and Shadia NasrallaLONDON, Dec 2 (Reuters) - Royal Dutch Shell said on Thursday it had scrapped plans to develop the Cambo oilfield in the British North Sea, which became a lightning rod for climate activists s...

Read more
2 Dec 2021 18:02

Shell and partner scrap plans to develop North Sea oilfield

LONDON, Dec 2 (Reuters) - Royal Dutch Shell and Siccar Point have decided not to go ahead with the development of the Cambo oilfield in the British North Sea due to a weak economic case, Shell said on Thursday."After comprehensive screening of the...

Read more
2 Dec 2021 17:05

LONDON MARKET CLOSE: Stocks fall as Omicron variant fears mount

LONDON MARKET CLOSE: Stocks fall as Omicron variant fears mount

Read more
2 Dec 2021 12:03

LONDON MARKET MIDDAY: Europe hit by Omicron but Wall Street to rebound

LONDON MARKET MIDDAY: Europe hit by Omicron but Wall Street to rebound

Read more
2 Dec 2021 10:08

UPDATE 2-European stocks fall as Omicron worries rattle investors

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* STOXX 600 gives back a chunk of Wednesdays gains* Apple suppliers hit by report on slowing demand* Vifor Pharma surges on takeover speculat...

Read more
2 Dec 2021 08:31

SSE and Equinor to proceed with $4 bln Dogger Bank C offshore wind farm

OSLO, Dec 2 (Reuters) - British utility SSE and Norwegian energy company Equinor have secured financing to proceed with the construction of the 3 billion pound ($3.98 billion) Dogger Bank C offshore wind farm in Britain, the companies said on Thu...

Read more
2 Dec 2021 07:03

Shell launches $1.5bn buyback from Permian sale

(Sharecast News) - Royal Dutch Shell has launched a $1.5bn share buyback as the first stage of returning cash to shareholders from the sale of its Permian business in the US.

Read more
1 Dec 2021 12:10

German oil lobby seeks net zero CO2 emissions by 2045

FRANKFURT, Dec 1 (Reuters) - Germany's oil industry will aim for net zero carbon emissions by 2045, moving away from fossil fuel to low carbon products such as biofuels and renewable energy-derived hydrogen, the industry's lobby group en2x said on...

Read more
1 Dec 2021 12:10

LONDON MARKET MIDDAY: IAG and Whitbread lead Omicron rebound

LONDON MARKET MIDDAY: IAG and Whitbread lead Omicron rebound

Read more
1 Dec 2021 08:54

LONDON MARKET OPEN: Omicron fears ease again but uncertainty lingers

LONDON MARKET OPEN: Omicron fears ease again but uncertainty lingers

Read more
30 Nov 2021 17:33

UPDATE 3-U.S. security review stalls sale of Shell Texas refinery to Mexico's Pemex

(Updates with comment from congressman critical of sale)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A U.S. national security review has delayed the sale of Royal Dutch Shell's controlling interest in a Texas refinery to Mexico's national oil company, ...

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.