Nord Stream – Oil & Gas 360

Nord Stream sues insurers in London over 2022 pipeline blasts

March 12, 2024

Nasdaq LONDON – Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC ACGL.O as defendants in its lawsuit, which was filed at London’s High Court last month. Switzerland-based Nord

Nord Stream rupture may mark biggest single methane release ever recorded – UN

September 30, 2022

US News The ruptures on the Nord Stream natural gas pipeline system under the Baltic Sea has led to what is likely the biggest single release of climate-damaging methane ever recorded, the United Nations Environment Programme said on Friday. A huge plume of highly concentrated methane, a greenhouse gas far more potent but shorter-lived than carbon dioxide, was detected

US LNG ‘Cannot Compete Under Any Circumstances’ with Russia’s Piped Gas – Professor

October 12, 2018

From Reuters/SputnikNews U.S. Senators Chris Murphy and Ron Johnson introduced a bill aimed at combating what they called “malign Russian influence” in the EU and ensure European energy security. Speaking to Radio Sputnik, Dr. Mamdouh Salameh, international oil economist and professor of energy economics at the ESCP Europe Business School, shared his views on the issue. Sputnik: In your view,

U.S., Poland Oppose Nord Stream 2 Gas Pipeline Linking Russia’s Gas to Europe

January 30, 2018

From AP/Washington Post WARSAW, Poland — The United States and Poland on Saturday took a strong stand against a planned gas pipeline linking Russia to Germany, saying it is part of a Kremlin scheme to politicize energy and undermine attempts to make Europe less dependent on Moscow. U.S. Secretary of State Rex Tillerson and Polish Foreign Minister Foreign Minister Jacek

Nord Stream Gas Pipeline Sends 51 Bcm to EU

January 17, 2018

The Nord Stream Pipeline delivered 51 billion cubic meters (Bcm) of natural gas to consumers in the European Union in 2017. This means that the pipeline system operated at 93% of its annual design capacity of 55 Bcm. This is the highest utilization since the start of operation of the Nord Stream Pipeline System, the company said in a statement.

Nord Stream 2 Getting Closer Faster

December 11, 2017

The four individual pipes will deliver a combined capacity of 10.64 Bcf/d of gas to European markets Permits for the Nord Stream 2 project are currently being drawn up. National environmental impact assessment reports were submitted to the German, Danish, Finnish, and Swedish authorities, with construction permit applications filed for the corresponding sections of the gas pipeline in each country.

European Operator Buys Large Stake in Russian Gas Field for $1.9 Billion

March 7, 2017

OMV purchases a 25% stake in the Yuzhno Russkoye gas field in Western Siberia, gains 100 MBOEPD OMV Aktiengesellschaft (ticker: OMG), an Austrian integrated oil and gas company, announced Sunday that the company purchased a 24.99% stake in the Yuzhno Russkoye gas field in Russia, creating a new core area for the company’s upstream business. OMV anticipates the new assets

Nord Stream 2 Gas Pipeline Could Pose Risk for Gazprom

September 22, 2015

Gazprom faces obstacles to financing $11 billion project in current market – Fitch Ratings Russian gas giant Gazprom (ticker: OGZPY) may not have the financial strength to follow through on the construction of its Nord Stream 2 project, according to a report from credit ratings agency Fitch. According to the rating agency, Nord Stream 2 may hurt the company’s commercial

Gazprom Takes New Approach with Natural Gas Auction

September 8, 2015

Gazprom makes first steps towards spot market pricing with natural gas auction Russia’s state-owned gas giant Gazprom (ticker: OGZPY) announced that it will hold a natural gas auction in Europe as the company explores new ways to expand its market share. Traditionally, Gazprom’s gas contracts have been linked to oil prices, a formula the company has fought to maintain despite

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