FX.co ★ EU has to accept Nord Stream 2!

More and more participants are willing to withdraw from the Nord Stream 2 project. However, the Russian media presents every new obstacle with remarkable optimism. According to the Kremlin’s rhetoric, Russia can handle construction of the gas pipeline to Europe on its own with the utmost ease.

Denmark is another country which could quit partnership with Russia. Danish Prime Minister Lars Løkke Rasmussen has submitted a draft bill to the parliament to block the implementation of the Danish part of the pipeline project. The bill will include a new procedure in standard processing of applications for international projects. This is assessment of foreign policy. Thus, Denmark voices concern whether the pipeline can run through the NATO country’s area because of security reasons. EU companies are well aware that politics is an integral part of any commercial or economic project. However, such developments cannot darken the optimistic mood of Gazprom. The Russian gas giant will go on even if remaining participants like Germany and Finland also abandon the project. “If Denmark’s government does not greenlight building the pipeline near its coast, we will have to change the route. The most probable scenario is to build the pipeline in the international waters northward off Denmark,” Nord Stream 2 AG Finance Director commented on the developments. No application for construction work in the international waters has been submitted yet.

The board of Nord Stream 2 AG does not see any reasons to worry. Perhaps, the project will meet the deadline. The company can make a flexible choice of when and where to build thanks to five available vessels. While awaiting permission from Denmark, Nord Stream 2 AG is free to alter a construction scheme and will complete this section later. This could take almost a month. The pipeline workers lay 3 – 3.5 kilometers a day. So, Denmark’s withdrawal will not cause a serious delay and expenses.