Uniper has not received U.S. sanctions threats over Nord Stream 2 -CEO (updated)

Omni Ventures

14/01/2021 10:13

* CEO says western partners are not targeted
    * Hopes for revival of better transatlantic relations
    * Says pipeline is needed, as is LNG, supply from TAP

 (Add detail, context)
    By Vera Eckert, Tom Käckenhoff and Christoph Steitz
    FRANKFURT, Jan 14 (Reuters) - German utility Uniper
 UN01.DE , part of the group of western financiers supporting
the Russia-led Nord Stream 2 gas pipeline, said it had not
received any threats of sanctions from the United States
targeting supporters of the project.
    Uniper is one of the financial backers of the $11 billion
pipeline project, which has become a focal point of Russia's
confrontation with the West.
    The pipeline, led by Russia's Gazprom  GAZP.MM , along with
Austria's OMV  OMVV.VI , Wintershall DEA  WINT.UL , Royal Dutch
Shell  RDSa.L  and France's Engie  ENGIE.PA  would double the
existing Nord Stream 1 pipeline's capacity.
    U.S. sources told Reuters on Tuesday that the U.S. State
Department had informed European companies helping to build the
pipeline they were at risk of sanctions under punitive measures
prepared by the outgoing Trump administration. urn:newsml:reuters.com:*:nL1N2JO18H
    "There are no threats in my postal in-tray, which I check
regularly," Uniper Chief Executive Andreas Schierenbeck said in
an interview with Reuters.
    There were no sanctions against the finance partners, he
said.
    Washington has said Europe is undermining its energy
security by doubling the existing Nord Stream 1 pipeline's
capacity and will rely too much on Russia for gas. Western
stakeholders say the pipeline is needed to meet future demand in
the region. urn:newsml:reuters.com:*:nL1N2JH1AP
    The Nord Stream 2 consortium last month completed laying
pipes in German waters and is due to start work on the remaining
Danish stretch within days.
    Schierenbeck said there were hopes that the incoming Biden
administration in the United States would be prepared to listen
to the European arguments.
    Uniper in a recent earnings call gave a figure of 700
million euros ($850.57 million) of loan exposure on its Nord
Stream 2 involvement, excluding accrued interest.
    Schierenbeck also said Germany needed to bring in sea-borne
liquefied natural gas as part of the country's efforts to ditch
coal and nuclear energy because European gas resources are
dwindling.
    Uniper was flexible, the CEO said, having secured up to 1.5
billion cubic metres of annual drawing rights on the new Trans
Adriatic Pipeline pipeline bringing Azeri gas to Europe.

($1 = 0.8230 euros)

 (Reporting by Vera Eckert, Christoph Steitz, Tom Kaeckenhoff;
editing by Kirsti Knolle, Maria Sheahan and Jane Merriman)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))