Page 11 - EurOil Week 10 2021

EurOil PIPELINES & TRANSPORT EurOil

Nord Stream 2 could take until

end-September to finish

RUSSIA CONSTRUCTION of Russia’s trouble-stricken Nord Stream 2 is not all that surprising and not
Nord Stream 2 pipeline project is due to resume critical to the business case of Gazprom, but
Pipelaying had been off Denmark later this month, the Danish Energy nonetheless negative, moving a potential catalyst
scheduled to resume Agency has said, although the work could drag for the stock from late spring until early autumn,”
in Danish waters in the for most of the year. analysts at BCS Global Markets (GM) said in a
middle of January. Pipelaying had been scheduled to resume research note.
in Danish waters in the middle of January, the Nord Stream 2’s construction is proceed-
month after work was restarted off Germany. ing despite the US’s sanctions regime, which
Construction ground to a halt at the end of prompted Swiss contractor Allseas to with-
2019, after the US imposed its first sanctions on draw from the project in December 2019.
the project. Additional sanctions imposed earlier this year
The Danish section of the pipeline between and the looming threat of further ones have
Bornholm Island in the Baltic Sea and the Ger- led a number of European contractors, equip-
man maritime border could take as long as the ment suppliers and other companies to leave
end of September to complete, a notice published the project.
by the Danish Maritime Authority has indicated. Among them was Norway-based independ-
Previously completion had been anticipated in ent certification body DNV GL, which halted its
April. Two Russian-flagged pipelaying vessels, verification activities at Nord Stream 2. The Nord
Akademik Cherskiy and Fortuna, are operating Stream 2 operator had hired DNV GL to “verify
in the area. the safety and technical integrity” of the project
A further 110 km of pipe needs to be laid off and to issue a certificate of compliance upon its
Denmark and 28 km in German waters, accord- “satisfactory completion.”
ing to the Nord Stream 2 operating company, Third-party certification, confirming that
a wholly owned subsidiary of Russia’s state- Nord Stream 2 was designed, fabricated, installed
owned Gazprom. After pipelaying is finished, and commissioned in accordance with “applica-
the project will require above-water tie-ins of ble technical, quality and safety requirements, is
unconnected pipe sections, as well as design needed before the DEA can grant a 'certification
verification. of conformity,' enabling pipeline commissioning
“The delay in the physical completion of to start.” ™

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