Ukraine/Russia: Engie says it is analyzing the situation on Nord Stream 2, increasing its gas purchases in Norway – 03/01/2022 at 18:24


UKRAINE/RUSSIA: ENGIE SAYS TO ANALYZE THE SITUATION ON NORD STREAM 2, TO INCREASE ITS PURCHASES OF GAS IN NORWAY

PARIS (Reuters) – The Engie group, which participated in the financing of the Nord Stream 2 gas pipeline project, the target of United States sanctions against Russia after its offensive in Ukraine, said on Tuesday that it was analyzing the consequences of this situation for the group.

“We are taking note of the developments in the situation, in connection with the American sanctions, and are analyzing the consequences to be drawn from them for the group”, one can read in a statement.

Engie, which reports that it does not have any industrial activity in Russia, explains that its commercial links with the country relate to gas supply contracts and specifies that it has “over the recent period (…) increased [ses] purchases of gas of Norwegian origin and LNG.”

The group declares to follow the evolution of the situation very closely and assures that it complies and will comply with all the sanctions which could be taken.

The Nord Stream 2 gas pipeline project, which connects Russia to Germany, is operated by the Russian public giant Gazprom, which paid for half of the work.

Besides Engie, Shell, OMV Uniper and Wintershall also contributed to the financing of the project.

(Written by Myriam Rivet, edited by Sophie Louet)



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