Companies & Finance

Nord Stream 2 flounders as partners withdraw

The Nord Stream 2 pipeline was dealt another blow last week when Gazprom’s prospective European partners withdrew their application to form a joint venture The Nord Stream 2 pipeline was dealt another blow last week when Gazprom’s prospective European partners withdrew their application to form a joint venture.
By Annemarie Botzki 16 August 2016 0 21534
Pipe supply contracts for Nord Stream 2 have already been awarded to Europipe, OMK and ChelPipe. (Gazprom)

The Nord Stream 2 pipeline was dealt another blow on Friday when Gazprom’s prospective European project partners withdrew their applications to form a joint venture.

While some say Gazprom will continue to push the project forward while its European partners look at legal alternatives, others have suggested the withdrawal could prove fatal.

Partners Engie, OMV, Shell, Uniper and Wintershall decided to abandon their plans after the project failed to gain clearance from Poland’s competition regulator. The application to set up the JV was filed by the six...