Energy Min says US sanctions not to prevent Nord Stream-2

MILAN, Oct 10 (PRIME) -- The Nord Stream-2 gas pipeline project will be implemented even if the U.S. imposes sanctions against its participants, Russian Energy Minister Alexander Novak told reporters late on Tuesday.

“We hope no sanctions will appear. If they do, the project will still be implemented as it has been started… Today’s timeline is until the end of 2019,” he said.

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom will implement the project together with Germany’s E.ON and BASF, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

Novak also said the Russia’s oil strategy implies maintenance and even a rise in production so the state will retain its position of the world’s leader in the field in the long term.

Earlier in October, Saudi Crown Prince Mohammed bin Salman said that Russia and some other states can disappear as oil producers until 2030.

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