The EU has scrapped plans for a major new natural gas pipeline between Russia and Britain. The pipeline – a branch of natural gas giant Gazprom’s Nord Stream project that connects Russian energy sources with Germany – will not get the go-ahead, despite a feasibility study completed in February proving it could work.
The conflict in Ukraine and EU sanctions against Russia “appears to be the project’s death knell,” The Times reported yesterday. The project was now shedding staff “as it becomes apparent that there is no chance of it proceeding soon,” the paper said.
Gazprom told RIA Novosti: “A feasibility study created a solid foundation for the project.”
RusEnergy partner Mikhail Krutikhin told RBTH that the project was mothballed a year ago, when the British side refused to pay its share of costs.
“The British side reckoned transport costs from the Yamil Peninsula would make the gas too expensive,” he said.
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