Energy

Nord Stream 2 completion not cure-all for gas market woes - Uniper CFO

1 minute read

The logo of the Nord Stream 2 gas pipeline project is seen on a large diameter pipe at Chelyabinsk Pipe Rolling Plant owned by ChelPipe Group in Chelyabinsk, Russia February 26, 2020. REUTERS/Maxim Shemetov

FRANKFURT, Nov 5 (Reuters) - The completion of the controversial Nord Stream 2 gas pipeline to bring more Russian gas into Germany under the Baltic Sea would go some way to relieving the tight gas market this winter, but there were other factors at play, the chief finance officer of utility Uniper (UN01.DE) said.

"Clearly it (Nord Stream 2) would help but the situation is more complex," CFO Tiina Tuomela said in an earnings call with analysts on Friday, adding weather factors and the level of arrivals of liquefied natural gas (LNG)in Europe were also important. read more

Certification of the pipeline, where Uniper is one of the finance partners, may still be a few months away. read more

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Reporting by Vera Eckert and Chris Steitz, editing by Riham Alkousaa

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