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    ENR   DE000ENER6Y0

SIEMENS ENERGY AG

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Nord Stream operators: Authorities won't allow us to inspect damaged pipelines

10/04/2022 | 10:53am EST

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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Oct 4 (Reuters) - The operators of two Baltic Sea gas pipelines that linked Russia and Germany until they both sprang major leaks last week said they were unable to inspect the damaged sections because of restrictions imposed by Danish and Swedish authorities.

Europe is investigating what caused three pipelines in the Nord Stream network to burst in an act of suspected sabotage near Swedish and Danish waters that Moscow quickly sought to pin on the West, suggesting the United States stood to gain.

Nord Stream 2 AG, Switzerland-based operator of that gas pipeline, said on Tuesday it will examine the condition of the leaking pipelines once a police investigation of the "crime scene" is completed and a cordon is lifted.

Later on Tuesday, Nord Stream AG, operator of the older Nord Stream 1 pipeline, said they had been told by Danish authorities that receiving the necessary permits to carry out an inspection could take over 20 working days.

"According to the Swedish authorities, a ban on shipping, anchoring, diving, using of underwater vehicles, geophysical mapping, etc. has been introduced to conduct a state investigation around the damage sites in the Baltic Sea," Nord Stream said in a press release.

Pressure in the pipeline had stabilised as of Monday, Nord Stream added.

Switzerland-based Nord Stream 2 said in emailed comments it was "cooperating with all relevant authorities".

"Copenhagen police are handling the investigation of the crime scene at the Nord Stream 2 leak in the Danish EEZ (exclusive economic zone)," it said. "The Swedish coast guard has cordoned off the area around the leak in the Swedish EEZ."

Kremlin-controlled Gazprom has said flows could resume at the last remaining intact pipeline in the Nord Stream 2 network, a suggestion likely to be rebuffed given Europe blocked Nord Stream 2 days before Moscow sent its troops into Ukraine on Feb. 24. (Reporting by Reuters; Editing by Andrew Heavens, Jan Harvey and Cynthia Osterman)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 0.04% 198 End-of-day quote.-42.32%
SIEMENS ENERGY AG -0.69% 16.575 Delayed Quote.-25.79%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.26% 62.4 Delayed Quote.-17.93%
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Financials
Sales 2022 28 360 M 29 834 M 29 834 M
Net income 2022 -449 M -473 M -473 M
Net cash 2022 1 795 M 1 888 M 1 888 M
P/E ratio 2022 -25,1x
Yield 2022 0,96%
Capitalization 11 846 M 12 462 M 12 462 M
EV / Sales 2022 0,35x
EV / Sales 2023 0,31x
Nbr of Employees 92 000
Free-Float 58,3%
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Number of Analysts 13
Last Close Price 16,58 €
Average target price 21,30 €
Spread / Average Target 28,5%
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Managers and Directors
Christian Bruch President & Chief Executive Officer
Maria Ferraro Chief Financial & Diversity Officer
Josef Kaeser Chairman-Supervisory Board
Laurence B. L. Mulliez Independent Non-Executive Member-Supervisory Board
GŘnter Augustat Member-Supervisory Board
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