Assessments

Gazprom Soldiers on With Nord Stream II

Aug 13, 2016 | 13:26 GMT
Series: Veins of Influence

Poland has achieved a significant victory in its battle against German and Russian energy collaboration. Daunted by Polish regulations, five international giants in the natural gas industry announced Aug. 12 that they had pulled out of an agreement to join Russian state-owned gas company Gazprom in the Nord Stream II AG consortium. The consortium -- which Gazprom currently owns in its entirety -- will oversee the construction and operation of the controversial Nord Stream II pipeline, which is set to enter service in 2019. The pullout leaves Gazprom to move forward with the 55 billion-cubic-meter natural gas pipeline project, estimated to cost between $8 billion and $11 billion, by itself, and it could have serious consequences across Northern and Central Europe. Even so, Gazprom will persevere....

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