U.S. sanctions on Nord Stream 2 gas pipeline project will only delay project

As per a report from Russian daily Kommersant, Russian President Vladimir Putin stated, Russia has a “pipe-laying vessel” to complete the construction of the Nord Stream 2 gas pipeline which will supply gas to Germany,

According to the report, Putin spoke about the vessel to a gathering of Russia’s top businessmen late on Wednesday. Putin expects the completion of the project to be be “stretched” by several months because of U.S. sanctions.

Last week, U.S. President Donald Trump had imposed sanctions on Russia’s Nord Stream 2 pipeline which bypasses Ukraine to supply gas, via the Baltic Sea, to Germany – Russia’s biggest energy customer.

Laying pipelines for the project got suspended after Swiss-Dutch company Allseas, stopped work to avoid U.S. sanctions.

In 2016, Russian energy giant Gazprom had purchased a special pipe-laying vessel called Academic Cherskiy which can be used to lay pipes in the event of European companies stopping work on the Nord Stream 2 project.

As per a Gazprom source, Cherskiy’s average pipe-laying speed is slower than the Pioneering Spirit; the source however did not provide a specific estimate.

According to Refinitiv Eikon data, Cherskiy is currently based in the Russian Pacific port of Nakhodka.

Before the announcement of sanctions, Russian officials had said, they expect the project to be completed and running by the middly of 2020.

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