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Gazprom's French partner: Sanctions don't prevent us from supporting Nord Stream 2

Staff Writer |
ENGIE as one of the European partners of the Nord Stream 2 pipeline, has already invested half of its financial obligations in the pipeline and is ready to provide the rest in the coming months as the construction company needs it, ENGIE Executive Vice President Pierre Chareyre said.

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"We have already provided a little less than 500 million in euros. It’s about half of our commitment, so there is more for it to come. There is a schedule of drawdown as the project company needs it to finance its investments. So it [the second half] will come in the next months," the vice president said on the sidelines of the Gastech conference in Barcelona.

Chareyre said that the Nord Stream 2 pipeline will be completed as initially planned despite potential sanctions by the United States, as the current regulation does not prohibit support of European companies

"The guidance which has been given by the American Administration on the sanctions does not prevent us from supporting Nord Stream, if rules change we will assess our position. For the time being there is no change, as far as I know. Most of the orders have been passed, and I am convinced that whatever happens the pipe will be completed," he said on the sidelines of the Gastech conference in Barcelona, asked about US President Donald Trump’s pledging not to punish EU companies for participating in the Nord Stream 2.

"Nord Stream is important for the security of supply in Europe, it’s our policy to increase various sources of gas coming into European markets from Russia but also from other places," Sputnik cited him as saying.

"That’s why we have decided to support Nord Stream 2 through our financing commitment. Nord Stream 2 is moving ahead. And nearly all permits was obtained except one. It’s on time and on schedule. It will be ready as initially planned," Chareyre stressed.

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