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Putin: Nord Stream 2 pipeline will be finished by year-end or Q1 2021

Russian President Vladimir Putin said he hoped the Nord Stream 2 gas pipeline would be completed by the end of the year or in the first quarter of 2021, after sanctions imposed by the United States delayed construction.

The pipeline, which will carry Russian gas to Europe avoiding transit across Ukraine, requires some 160 kilometres of pipes to be laid and was initially expected to be in operation in the first half of 2020.

Last month, the Swiss-Dutch company Allseas suspended pipe laying after Washington imposed sanctions against Nord Stream 2, saying the pipeline would make Europe too reliant on Russian gas.

“We, of course, would be able to finish construction on our own and without involving foreign partners,” Putin told a joint press conference with German Chancellor Angela Merkel on Saturday in Moscow.

Russian state gas company Gazprom has two pipe-laying vessels which it could use to do the job.

“I believe that this project is legitimised by new European regulation and that we therefore should complete it,” Merkel told the same press-conference.

She added that irrespective of Nord Stream 2, Germany and other European countries “all have an interest in the diversification of their gas deliveries and will continue to work in this direction.” (Reporting by Vladimir Soldatkin in Moscow, Andreas Rinke, Sabine Siebold and Edward Taylor in Berlin Writing by Gabrielle Tétrault-Farber and Katya Golubkova Editing by Frances Kerry, Kirsten Donovan)

Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

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Editorial Comment: The Future of FLNG: Less is More?
-Adrienne Blume
Global LNG export capacity is expected to increase by 45% between 2017 and 2022, to more than 400 metric MMtpy, with 90% of the new capacity coming from sanctioned projects in the U.S. and Australia. By 2050, this capacity is anticipated to exceed 700 MMtpy. Regasification capacity is anticipated to increase even more sharply.
Executive Viewpoint: Back to production: Where we’re going, we don’t need pipelines
-Mark Casaday
What if a cost-effective way existed to extract and distribute natural gas, regardless of proximity to pipeline, and bring those assets back to production? What if the industry went in a direction that did not need pipelines? For those looking to monetize unproductive natural gas assets or bring unproductive wells back to production, it would be revolutionary.
Regional Focus:Australia to boost LNG exports despite domestic gas shortage
-Eugene Gerden
Australia is planning further increases in LNG production and exports over the next decade, despite quickly depleting reserves and a looming supply shortage in the domestic market.

GasPro 2.0: A Webcast Symposium

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Following on the heels of the highly successful GasPro 2.0 Webcast Symposium in October 2018, the second GasPro Webcast Symposium 2.0 will take place on October 24, 2019.

The 2019 web event will gather experts in the fields of LNG, gas processing, and gas transport/distribution to share their operations expertise, engineering and design solutions, and technology advances and trends with our audience.

Attendees will learn about technology and operational solutions and deployments in a number of areas: plant design and expansion, construction, NGL production, optimization, sulfur removal, marine operations and separation technology.

October 24, 2019 08:30 AM CDT

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