Nord Stream 2 - Russian Gas Pipeline's Long Wait for Approval
German Chancellor Olaf Scholz said last week that Germany may consider halting the Nord Stream 2 pipeline if Russia attacks Ukraine, reflecting growing political pressure on the Gazprom-led project.Russia has massed troops on the Ukrainian border but denies it is planning an attack, while the United States and Europe have promised to impose sanctions on Moscow should it invade, with Nord Stream 2 one of the possible targets.Europe's most divisive energy project, Nord Stream 2 is designed to double the amount of gas flowing from Russia straight to Germany…
Nord Stream 2 Completes Pipe Laying Works in German Waters
The Russia-led Nord Stream 2 consortium said on Monday it has completed laying pipes for the project in German waters, finishing work on a 2.6 kilometer-long portion of the pipeline, which had been stalled by the threat of U.S. sanctions."We have completed this work," the consortium said in an emailed statement, referring to the pipe-laying in the German economic zone.Earlier on Monday, Refinitiv Eikon data showed the Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in Germany's section of the Baltic Sea.The Fortuna earlier this month resumed work on the pipeline, which will pump gas directly from Russia to western Europe, bypassing Ukraine.
Fortuna Pipelayer Leaves Nord Stream 2 German Site, Indicating Project Progress
The Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in the Baltic Sea, Refinitiv Eikon data showed on Monday, indicating that the 2.6-km stretch of the project in German waters may have been completed.Fortuna was now heading for the north German port of Wismar, the data showed.The Fortuna earlier this month resumed work on the pipeline, which will pump gas directly from Russia to western Europe, bypassing Ukraine. Work had been suspended for a year due to the risks of sanctions from the United States.Nord Stream-2 did not respond to a request for comment on Monday on the latest developments.The pipeline…
Wärtsilä Report Steady Development in First Half 2012
The second quarter marked steady progress for Wärtsilä. Our net sales grew by 6% and our profitability was 10.3%. We continue to work towards reaching our growth and profitability targets this year. I am pleased with the good development within Ship Power’s specialised vessel segments, which compensated for Power Plants’ slightly weaker second quarter order intake. Ship Power also received interesting pump, gas and environmental system orders. Services development remained rather steady, despite the tough market conditions in the merchant vessel markets. The outlook for overall vessel contracting activity during 2012 is slightly negative, with full year contracting expected to be somewhat lower than contracting during 2011.
Offshore LNG Gets OK for Project
Mass. environmental regulators have given a tentative ok to another proposed offshore LNG unloading buoy off of Gloucester, after getting about $23.5m in concessions to offset any damage to the fishing industry. The Massachusetts Office of Environmental Affairs issued a certificate of approval to Suez LNG to one day bring specially designed liquefied natural gas ships off the state coast and then pump gas through undersea pipelines to storage tanks on land. The more than $1b Suez proposal is the second LNG offshore project approved by the environmental agency. Excelerate of Texas recently got the agency’s blessing for a similar project - with the same $23.5 million in mitigation concessions.
