Uniper says Nord Stream-2 non-fulfillment not ruled out

MOSCOW, Aug 11 (PRIME) -- Germany's Uniper, one of the partners of Russia's Nord Stream-2 gas pipeline does not rule out suspension and even non-fulfillment of the project due to U.S. sanctions, the company said in a report released on Tuesday.

"With the U.S. intensifying their efforts on targeted sanctions against the Nord Stream 2 project the probability of a delay or even non-completion of the pipeline is increasing,” the company said.

“Uniper actively monitors the situation and takes all required actions to ensure compliance with applicable rules. Uniper is also in constant exchange with relevant stakeholders about the updated grandfathering guidance on CAATSA (Countering America's Adversaries Through Sanctions Act) by the U.S. Department of State."

Managing Director Andreas Schierenbeck said that the company believes that the project will be fulfilled. "I assume and we believe that the project will be fulfilled," he said at a conference call following the release of report.

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 is implementing the project together with Germany’s E.ON and BASF, Royal Dutch Shell, OMV, and France’s Engie. The length of the pipeline’s route exceeds 1,200 kilometers.

Uniper invested 700 million euros out of the pledged 900 million euros as of the end of May.

Russian Senator Oleg Morozov said that Nord Stream-2 will be completed regardless of U.S. sanctions against the project. "Nord Stream-2 has no alternative for several European states, this is why it will be finalized no matter the difficulties," Morozov said.

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