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OMV unfazed by U.S. pressure on Nord Stream pipeline

OMV said more pipelines are needed in Europe, including the Nord Stream 2 network.

Vienna, July 25 - Neftegaz.RU. Austrian energy company OMV said more pipelines are needed in Europe, including the Nord Stream 2 network, as the region faces declines in domestic production.


Gazprom plans to double the twin Nord Stream network through the Baltic Sea to Germany. Its partner in the project, Austrian OMV, said the network is an important component of European energy security.


Russia meets about a quarter of the European natural gas demand, thought its role in the market is a concern for European leaders wary of Gazprom on anti-trust grounds. Apart from Norway, there are few other regional natural gas suppliers.


Outside of Europe, the pipeline has come under strain from a U.S. government putting economic pressure on Russia. Last week, U.S. Senate leaders introduced a bill that would sanction Nord Stream partners. According UPI, OMV said it was following discussions about the pipeline very closely.


«As a business-driven company we do comment on single political messages,» OMV responded. «As Europe will face a higher gas demand and a declining domestic production in the future every additional transport capacity is welcome, needed and supports the energy security of Europe.»


So far, OMV said, the 2nd phase of the Nord Stream pipeline is excluded from sanctions.


Targeting the pipeline during meetings with NATO members in early July, Donald Trump said Germany was «controlled» by Russia through the natural gas market. German energy company Wintershall is a Nord Stream partner.


The U.S. government sees LNG drawn from inland shale basins as a way to counter Russia in the European energy market. Polish PGNiG, signed a 5-year contract in November to secure LNG from the Sabine Pass terminal in Louisiana, the 1st mid-term contract of its kind.



Source : Neftegaz.RU