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Gazprom expects no changes to key projects from new U.S. sanctions
August 14, 2017 / 4:15 PM / a month ago

Gazprom expects no changes to key projects from new U.S. sanctions

The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Gazprom said on Monday that new U.S. sanctions against Moscow would not result in the Russian gas exporter having to make changes to key projects, although they could cause delays.

Several provisions of the sanctions law signed by U.S. President Donald Trump earlier this month target Russia’s energy sector, which produces much of its foreign income, with new limits on U.S. investment in Russian companies.

Last month Gazprom said the sanctions might delay some giant gas projects, including Nord Stream 2, Turkish Stream gas pipelines and deepwater, Arctic offshore or shale projects.

“For the time being (sanctions) are not cause for changing the strategic direction of business or adjusting the list of key Gazprom projects”, the state-owned company said in statement.

Writing by Denis Pinchuk; editing by Alexander Smith

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