Page 8 - EurOil Week 19 2022

EurOil PIPELINES & TRANSPORT EurOil

Russia puts Nord Stream 2 to

work for domestic market

RUSSIA RUSSIA has announced it will use the onshore Nord Stream 2, only one line of the pipeline with
section of the Nord Stream 2 gas pipeline to serve 100% load can be put into operation,” it said. “The
Nord Stream 2's second domestic demand, after Germany put the export commissioning of the second offshore string of
string will only become project on hold in response to Moscow’s actions Nord Stream 2 may not begin until 2028.”
available for European in Ukraine. Germany’s government announced it was
flow in 2028, according Gazprom said on May 5 it would use the 55 suspending the certification process needed
to Gazprom. bcm per year pipeline’s onshore facilities to work for Nord Stream 2’s commercial launch
in expanding gas supplies to customers in north- on February 22, after Moscow recognised
west Russia. Ukraine's eastern breakaway territories of
“Due to the fact that the Nord Stream 2 off- Donetsk and Lugansk as independent. The
shore gas pipeline is currently not in use, and project’s fate appeared sealed after Russia
taking into account the implementation of began its all-out invasion of Ukraine two days
gas supply for consumers in northwest Russia, later, leading Germany to announce support
Gazprom has decided to use the excess onshore for several LNG terminals to replace all Rus-
gas transmission capacity of Nord Stream 2 for sian gas imports by as soon as 2024.
the development of gas supply to the regions of After delays caused by US sanctions and
northwest Russia,” Gazprom said. permitting issues in Denmark, Nord Stream 2
The company said that only half of Nord was finally completed in September 2021. Even
Stream 2’s capacity would be available in the before Germany’s decision to halt the project, its
event that the pipeline was allowed to export gas. certification was expected to take until late 2022
“If the German side decides to commission at the very earliest. ™

POLICY

G7 commit to phasing

out Russian oil

GLOBAL THE G7 group of major economies have vowed or banning the import of Russian oil,” the G7
to reduce reliance on Russian oil imports “in a said. The gradual approach to ending Russian
The move signals timely and orderly fashion,” in an effort to ratchet oil shipments will give member countries the
support for a planned up pressure on Moscow and signal support for a time to secure alternative supplies and avoid
phased embargo by phased embargo proposed by the EU. However, hurting consumers too much through price
the EU. the G7 countries – France, Canada, Germany, spikes, the group said. “This will hit hard at
Italy, Japan, the UK and the US – did not explic- the main artery of Putin’s economy and deny
itly comment on efforts to reduce purchases of him the revenue he needs to fund his war,” it
Russian gas. said.
“We commit to phase out our dependency The G7 also committed to accelerating the
on Russian energy, including by phasing out energy transition away from fossil fuels. ™

P8 www. NEWSBASE .com Week 19 12•May•2022