The seizure of Gazprom’s assets will not prevent the implementation of projects “Nord Stream

The seizure of Dutch assets of Gazprom will not affect its activities, while the freezing of the shares of the Russian company in the projects of Nord Stream AG and Nord Stream 2 will hit the gas supplies to Europe, experts believe, interviewed by the agency “Prime”.
Today, Naftogaz Ukrainy reported that, as part of the execution of the earlier decision, the Stockholm Arbitration Court seized Dutch assets of Gazprom. The bailiffs also carry out actions to freeze Gazprom’s shares in the Nord Stream AG and Nord Stream 2 AG projects, which are the operators of the existing Nord Stream gas pipeline and the Nord Stream-2 pipeline under construction.
The Stockholm arbitration, after considering the dispute between Gazprom and Naftogaz in February, ordered the Russian company to pay the Ukrainian side 2.6 billion dollars for gas shortage. “Gazprom” disputes this decision in the appellate court.
EUROPE AFFECTED FIRST
The freezing of Gazprom’s shares in Nord Stream AG and Nord Stream 2 AG projects is a very serious blow to the European market, says leading expert of the Union of Oil and Gas Producers Rustam Tankayev. For Gazprom this is not as serious as for Europe.
The expert believes that limiting the supply of Russian gas will be a huge blow to the competitiveness of the European Union. This will lead to a jump in the cost of all European products. “For example,” Mercedes “and” Volkswagen “will become uncompetitive compared to the” Ford “and, as a result, the EU will lose a lot in the competition,” Tankayev said.
He recalled that the Trump administration is ready to impose sanctions against five European companies, which together with Gazprom are involved in the construction of the Nord Stream-2. According to him, Europeans consider the braking of the “North Stream-2” from the US side as unfair competition, as stated by the Ministers of Economy of Germany and France.
As a result of 2017, the transit of Russian gas through Ukraine was a record 93.5 billion cubic meters in recent years. The current contract for transit through Ukraine, which Gazprom disputes after the decision of the Stockholm Arbitration, expires in 2019.
According to Tankayev, Ukraine’s gas transportation system has a limited resource and by the end of 2019 “will simply rise due to ugly technical condition.” He recalled that the Ukrainian authorities asked for help to repair the GTS in the US and the EU, but they could not get it. “Nobody is ready to supply equipment in debt or under any guarantees of the government of Ukraine, Siemens and General Electric refused categorically,” Tankayev said