Uniper, a financial partner of Nord Stream 2, acknowledges reduced risks of delays or non-completion of the gas pipeline’s construction after the US and Germany reached an agreement on the project, according to the company’s financial results report released on Wednesday, TASS reports.
“The United States and Germany reached a deal on Nord Stream 2, Ukraine, and Climate Protection on July 21. Based on this, the likelihood of future project delays or possibly pipeline non-completion is reducing,” Uniper said.
According to the report, Uniper Group “continues to behave completely in accordance with relevant regulatory legislation,” while Nord Stream 2 AG, the project’s operator, “continues to affirm that they are working to complete the project.”
The Nord Stream 2 project calls for the construction of two pipelines with a total capacity of 55 billion cubic meters per year from Russia’s coast through the Baltic Sea to Germany. The operations were halted in December 2019 after Swiss Allseas abandoned pipe-laying owing to potential US penalties. Construction on the pipeline will commence in December 2020.