Friday, June 12, 2020

German officials fear US sanctions against german agencies

As the US Congress, in a rare bipartisan cooperation, votes new sanctions against any company supporting the completion of controversion pipeline Nord Stream 2, german officials fear that those sanctions could also hit german agencies and authorities who perform inspections or certifications, writes german newspaper "FAZ":

"The document points to a bipartisan bill that democratic and republican senators introduced in Washington in early June in the American legislative process. According to the Ministry of Economic Affairs, "all companies" that "offer services, insurance or certain retrofit services for laying ships" in connection with the planned Nord Stream 2 gas pipeline should "be included" in the planned sanctions. It also says: "The same applies to services such as tests, inspections or certifications that are required for the operation of Nord Stream 2."
The Department of Commerce is now afraid that the proposed American law could also "result in administrative action by state authorities in connection with the completion or operation of the pipeline being relevant to sanctions". The paper says: "It would be a novelty if sanctions were also directed against the authorities of (friendly) governments or even against the governments themselves." In any case, "it can be assumed that the new sanctions proposals will significantly increase the number of German and European companies a potential sanction target ”. American punitive measures against other countries have repeatedly been directed against representatives of companies and authorities. Accounts were blocked or entry bans issued."

Monday, June 1, 2020

Wilhemshaven FSRU is taking shape

MarineLog writes:

"Mitsui O.S.K. Lines Ltd. (MOL) and LNG Terminal Wilhelmshaven (LTW) have signed an agreement to build and charter a 263,000 cu.m LNG Floating Storage and Regasification Unit (FSRU) for the planned LNG terminal in Wilhelmshaven, which is Germany’s only deep water port and can be reached without any tidal constraints.

The FSRU will be built by South Korean’s Daewoo Shipbuilding and Marine Engineering (DSME) then chartered by LTW (which is a subsidiary of Düsseldorf headquartered Uniper SE) for 20 years.

DSME said in a filing last week that it had signed a contract worth $340 million to build an FSRU for an undisclosed customer.

The FSRU will make it possible to offload, store and regasify LNG for the German market. It will be moored off the coast not far from Wilhelmshaven and will handle incoming LNG tankers there. The regasified gas will then be pumped from the FSRU along a short connecting pipeline under the sea to the port facilities and finally fed into the German gas transmission network. This eliminates the need to construct complex regasification facilities on land."

 You can read the rest of the piece via the below link:


New US sanctions to be introdueced against Nord Stream 2

New York Times:

"Cruz told the Atlantic Council think tank this month that new sanctions would apply to any ship or any owner who attempts to finish the project. Ship officers would lose their ability to come to the United States and all their assets would be blocked, he said."