Putin says Nord Stream 2 to be com­pleted by early 2021

Muscat Daily - - BUSINESS -

Moscow, Rus­sia - Rus­sian Pres­i­dent Vladimir Putin said on Satur­day that he hopes work on the Nord Stream 2 gas pipe­line will be fin­ished by early next year.

“I hope that by the end of this year, or in the first quar­ter of next year, work will be fin­ished and the gas pipe­line will start op­er­at­ing,” Putin told a joint press con­fer­ence with Ger­man Chan­cel­lor An­gela Merkel.

The United States last month im­posed sanc­tions on firms work­ing on the al­most-com­pleted pipe­line, which will dou­ble gas ship­ments to Ger­many and is a key part of Moscow’s ex­port strat­egy for Gazprom.

Wash­ing­ton be­lieves the € 9.5bn project will give Rus­sia too much in­flu­ence over se­cu­rity and eco­nomic is­sues in western Europe.

Putin said the US sanc­tions would cause de­lays of ‘sev­eral months’, af­ter En­ergy Min­is­ter Alexan­der No­vak said in De­cem­ber that the pipe­line would be fin­ished by late this year.

Merkel added that ‘ de­spite the sanc­tions it will be pos­si­ble to com­plete Nord Stream 2... There is a cer­tain de­lay but it will be com­pleted’.

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