Denmark To Be Forced To Compensate Losses Over Nord Stream 2 Construction Delay - Gazprom

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Denmark to Be Forced to Compensate Losses Over Nord Stream 2 Construction Delay - Gazprom

Denmark's reluctance to approve the construction of the Nord Stream 2 pipeline for delivering Russian gas to Europe and subsequent delays may result in losses that Denmark will sooner of later be forced to compensate, Sergey Kuznets, a member of the management committee of Russian gas giant Gazprom, said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 18th June, 2019) Denmark's reluctance to approve the construction of the Nord Stream 2 pipeline for delivering Russian gas to Europe and subsequent delays may result in losses that Denmark will sooner of later be forced to compensate, Sergey Kuznets, a member of the management committee of Russian gas giant Gazprom, said on Tuesday.

The pipeline is set to pass either through territorial waters or exclusive economic zones of Denmark, Finland, Germany, Russia and Sweden. Denmark remains the only country that has not given its consent to the construction of the pipeline so far.

"They have responsibilities that may sooner or later emerge. As far as I know, the Nord Stream [2 AG] company [pipeline operator] has made a hint that investments have already been made and delays over gas pipeline route coordination may result in losses that it will sooner or later be necessary to compensate," Kuznets said at a press conference.

The Nord Stream 2 project envisages the building of a twin pipeline, which will deliver around 55 billion cubic meters (almost 2 trillion cubic feet) of gas directly to Germany and other European countries.