040 - Which western companies in Russia’s oil and gas exited before Nordstream affair?

 PREFACE/ISSUE

The Nordstream affair was a job of a government.

It would make sense to push company to exit early from Russian energy.

28 Feb 2022 - BP and Shell Are Leaving Russia. These Other Oil Companies Could Face Pressure Next...

I. Companies which were operating in Russian gas and oil markets:

BP (UK)

BP's global headquarters is located in London, United Kingdom. The company has a significant presence in many countries around the world and operates in over 70 countries.

BP was the biggest foreign investor in the Russian oil and gas industry, with a significant stake in the state-owned oil company Rosneft. However, BP decided to abandon its stake in Rosneft, which resulted in a cost of up to $25 billion. As a consequence of this move, BP's oil and gas reserves were reduced by half. Shell also decided to follow BP's lead and divest its exposure in the Russian oil and gas industry.

27 Feb 2022 - BP to Exit Rosneft Stake and May Take a $25 Billion Hit

27 Feb 2022 - BP to Exit From Stake in Russia’s Rosneft Following Pressure From U.K.

28 Feb 2022 - Shell to divest from Gazprom, Nord Stream 2 

28 Feb 2022 - Shell exits Nord Stream 2, In addition, the company will also withdraw from the Sakhalin-2 project 

28 Feb 2022 - Shell’s exit from Gazprom intensifies pressure on Total and Exxon 

3 May 2022 - BP posts $20B quarterly net loss on Russia exit 

SHELL (DUT, UK, int.)

Shell's global headquarters is located in The Hague, Netherlands. The company also has a registered office in London, United Kingdom. Shell is a multinational oil and gas company with operations in over 70 countries, and it has regional headquarters located in different parts of the world, such as Houston (North America), Singapore (Asia Pacific), and Dubai (Middle East and North Africa).

Some of the largest institutional shareholders of Shell include The Vanguard Group, Inc., BlackRock, Inc., Norges Bank Investment Management, and State Street Global Advisors.

The company owns a 27.5% stake in the Sakhalin-2 liquefied natural gas project, has interests in the Salym Petroleum oil project with Gazprom Neft, and a venture for hydrocarbon development at Gydan Arctic peninsula. Additionally, Shell was one of the five co-financiers of the Nord Stream 2 project.

Despite having a significant presence in the Russian oil and gas industry, Shell decided to leave its Russian partnerships.   

CHEVRON (USA)

25 Feb 2022 - Chevron says monitoring Russia situation, can adjust crude supply

3 March 2022 - While other oil majors pull out of Russia, Chevron says Caspian pipeline is ‘key’ 

EXXONMOBIL (USA)

2 March 2022 - ExxonMobil faces logistical challenges leaving Russia

17 Oct 2022 - Exclusive: Exxon exits Russia empty-handed with oil project 'unilaterally terminated'

Exxon Mobil Corp (XOM.N) said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. 

HALLIBURTON (USA)

9 Sept 2022 - Halliburton Completes Russia Exit Over Ukraine War

“The Russia-based management team now owns and operates Halliburton’s former business and assets in Russia under the name BurService LLC, which is independent from Halliburton,” the multinational said in a statement. 

Halliburton did not disclose the terms of the sale. Its Russian assets were valued at $340 million prior to the exit.  

EQUINOR (NOR)

25 May 2022 - Equinor exits all Joint Ventures in Russia

Since then, Equinor has halted all new investments into Russia, stopped trading oil and gas products from Russia and announced an impairment of USD 1.08 billion on the balance sheet as of 31 March 2022.

Equinor has now transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations. An agreement to exit the Kharyaga project has also been signed.

The exit from all Joint Ventures has been completed in accordance with Norwegian and EU sanctions legislation related to Russia. 

UNIPER (GER)

17 Feb 2023 - Uniper Says It Will Overcome Russian Gas Issues By 2024

BASF (GER)

BASF, a German chemicals maker, has exposure to the Russian oil and gas industry through its co-ownership of Wintershall Dea, a company that is one of the financial backers of the suspended Nord Stream 2 gas pipeline. Wintershall Dea is co-owned by BASF and the Russian billionaire Mikhail Fridman's LetterOne investor group. Additionally, BASF generates 1% of its group sales from Russia. In Russia, Wintershall Dea owns a 35% stake in the Yuzhno-Russkoye gas field, with partners Gazprom and Austria’s OMV.

Wintershall Dea also jointly works with Gazprom at the Achimov Development gas-producing project in Russia.

18 Jan 2022 - Germany’s BASF takes huge write-downs as unit exits Russia 

16 June - BASF subsidiary profits from Germany’s Russian gas addiction

Despite the war in Ukraine, in 2022 the chemical giant’s subsidiary Wintershall has piped €14 billion worth of Russian gas across Germany and made €400 million from its Siberian gas and oil fields. 

12 Oct 2022 - BASF to slash costs in Europe, takes writedown on Nord Stream 1

 “Continuing to operate in Russia is not tenable,” Wintershall Dea CEO Mario Mehren said.

He added that limitations imposed by Russia on Western-owned assets had made it impossible to operate properly “and resulted in an economic expropriation of the joint ventures in Russia”.

The company specified that Russian presidential decrees had retroactively slashed the prices at which joint ventures can sell their oil and gas to Kremlin-controlled Gazprom. 

25 Oct 2022 - The biggest corporate victim of Europe’s energy crisis may be a $93 billion chemical giant whose flagship plant uses as much gas as Switzerland 

OMV (AUT)

18 Jan 2023 - OMV: not yet made final decision on asset in Russia

Austria's OMV (OMVV.VI) has not yet made a final decision on its asset in Russia, the company said on Wednesday, following BASF's (BASFn.DE) announcement that its subsidiary Wintershall Dea (WINT.UL) would exit the country. 

ENI (ITA)

2 March 2022 - Italy's Eni to pull out of Russia-Turkey natural gas pipeline

Italian oil giant Eni said Tuesday it would withdraw from the Blue Stream gas pipeline linking Russia to Turkey, in which it has a 50% stake.

ENGIE (FRA)

3 March 2022 - France's Engie to continue Russian gas purchases on energy market 'tensions'

Engie said it did not engage in any industrial activity in Russia and no investment projects were underway on Russian territory.

However, Engie was one of five European energy companies that helped finance the construction of the suspended Nord Stream 2 gas pipeline from Russia to Germany.

"Engie, as a lender, is exposed to Eur987million of credit risk which could impact its accounts in the event of Nord Stream 2 filing for insolvency," it said.

The Switzerland-based operator of Nord Stream 2 on March 2 denied reports it had filed for bankruptcy, saying it had only informed local authorities that it had terminated employee contracts.

Numerous media reports, citing sources and Swiss officials, on March 1 said Nord Stream 2 AG had filed for insolvency or was planning to after US sanctions were imposed against the company on Feb. 23.

Engie, along with Shell, Austria's OMV, and Germany's Wintershall Dea and Uniper, each pledged to loan Eur950 million to help build Nord Stream 2.  

TOTALENERGIES (FRA)

9 Dec 2022 - TotalEnergies to ‘gradually withdraw’ from Russian investments

World’s fifth-largest oil firm finally bows to pressure after invasion of Ukraine, removing representatives from Novatek board.

1 Sept 2022 - The CEO of @TotalEnergies, @PPouyanne, explains the reality

...of the consequences of the sanctions against #Russie: the loss of billions of euros of investments given as gifts to the Kremlin, if ever #Total withdraws, as the entails a disconnected media-political caste. 

Because, if we leave Russia, we give all the assets and infrastructures to Russia, and Russia know how to use it... so it will be a gift for the Kremlin. [credit to LuxFree @LuxFree3 for pointing this out] 

II. The divesting from Russia did not go as planned

3 Jan 2023 - BP Still In Spotlight Over Incomplete Russia Exit

Sonnenfeld has told Bloomberg that he noticed an unusual pattern as U.S. businesses started withdrawing from Russia: the first movers actually were oil giants with complex local ties and huge sunk costs; and tech companies wary of the political complications and professional firms that hate to offend their clients rather than consumer brands sensitive to public sentiment. 

31 Jan 2023 - Nearly a year on from the supposed Russian exodus, most major companies have yet to withdraw

After Russian troops invaded Ukraine in February 2022, companies across the G-7 major economies and the European Union announced plans to cease business operations in Russia.

Yet by the end of the year, very few had fully delivered on that promise, according to new research from Switzerland’s University of St. Gallen

The report published earlier this month documented a total of 2,405 subsidiaries owned by 1,404 EU and G-7 companies that were active in Russia at the time of the first military incursion into Ukraine.

By November 2022, fewer than 9% of that pool of companies had divested at least one subsidiary in Russia

“Confirmed exits by EU and G7 firms that had equity stakes in Russia account for 6.5% of total profit before tax of all the EU and G7 firms with active commercial operations in Russia, 8.6% of tangible fixed assets, 8.6% of total assets, 10.4% of operating revenue, and 15.3% of total employees,” 

“These findings mean that, on average, exiting firms tended to have lower profitability and larger workforces than the firms that remain in Russia.” 

“These findings call into question the willingness of Western firms to decouple from economies their governments now deem to be geopolitical rivals,” Evenett and Pisani wrote.

“The study’s findings are a reality check on the narrative that national security concerns and geopolitics is leading to a fundamental unwinding of globalisation.” 

[M: I have been repeating over and over that business/trade always wins over politics in medium to long term. Example, see Vietnam - USA relations.] 

III. Politicians were very involved in motion to divest from Russia

2 March 2022 - US urges companies to comply with Russia-related sanctions

13 March 2022 - UK's Sunak urges firms to leave Russia

British finance minister Rishi Sunak called on more British companies on Sunday to wind down their existing investments in Russia and said new investments should be halted after President Vladimir Putin's decision to invade Ukraine.

CONCLUSION/SUMMARY:

• It looks like the UK, US based oil/gas majors companies started the exit from Russia.
  
  
• The UK was very active in pursuing companies to leave RU market.
  
  

OTHER UK RELATED POSTS

most of the research about UK´s role, motives has been conducted in 2023

The summary is here:

121 - Hersh´s claim vs Hard data - and - Mortymer´s Nordstream hypothesis recap

***

- INDEX -

***

Uncovering the truth took over two years of self-funded, tireless investigation.

I decided to open it for free, no paywall, despite huge investment.
Because the truth matters.
Please consider supporting my work with a donation.

Every bit helps keep this mission alive!

mortymer001

(retweet and follow)

039 - Belgium & Nordstream affair

PREFACE/ISSUE

Exploring role of Belgium in Nordstream affair

My claim is that leaders know from early on who was behind yet they keep that secret due to geopolitical conflict between Ukraine and Russia.

The Nordstream pipeline delivery routes were part of EU´n  energy security despite lowed deliveries in summer 2022.

 

Belgium is HQ of NATO and EU institutions. They are in the very centre of events.

There was a lot of coordination between EU leaders, leaders of NATO members  and it is assumed that the prime suspect and/or saboteur is well known. See e.g. here. 

Belgium

Belgium only relied on Russia for around 6 percent of its gas, and is instead a hub for supply to other countries in the European Union. 

The Belgian port of Zeebrugge is an important import centre for Liquefied Natural Gas (LNG). Much of it is supplied by Qatar.

Nevertheless, high gas prices have affected households and industry.

I. Possible role of UK Astute class submarine S120 Ambush

12 Oct 2022 - This is our war as much as it is Ukraine’s, says UK defence procurement minister

[M: A UK nuclear submarine s120 Ambush has docked in Flaslane Scotland just a few days after the Nordstream affair. It is possible that it was involved in the attack on the Nordstream. The issue is described in earlies posts.]

 

8 Nov 2022 - Top secret operation is aborted after fire breaks out on nuclear sub as it heads for overseas base

 

A Royal Navy submarine which was fully armed with nuclear missiles aborted a top secret operation after a fire broke out onboard.

The £3billion HMS Victorious, which is one of Britain’s four Trident submarines, had been sailing to a base overseas when the electrical fire started six weeks ago.

The blaze, which destroyed an electrical converter, was quickly extinguished before the 30-year-old vessel returned to Scotland for repairs.

The 16,000-tonne sub is one of four that provides non-stop nuclear deterrent patrols - but was understood not to be in that role at the time. 

8 Nov 2022 -  British nuclear-armed sub resurfaces after fire onboard 

A Royal Navy nuclear-armed submarine had to abandon its mission and resurface, after a fire broke out onboard following an electrical fault. 

The Ministry of Defence said the incident on HMS Victorious happened six weeks ago.   

II. Politics

23 Sept 2022 - CNO and Commander of Belgian Navy Meet; Discuss Increasing Capabilities and Capacity

Chief of Naval Operations Adm. Mike Gilday met with the Commander of the Belgian Navy Rear Adm. Jan de Beurme at the Pentagon for an office call, Sept. 23.

The leaders discussed building maritime capabilities and capacity, as well as deterrence, defense and the need to continue to protect the stability and prosperity of the seas.

“Collectively, our capacity expands when we sail in company with like-minded navies around the world, and we are grateful for the continued partnership and collaboration with Belgium,” said Gilday. “We will continue to strengthen the bonds we share through increased operations, interoperability, and continued cooperation."

Both heads of navy emphasized the need to develop high-end warfare capabilities, such as advanced mine countermeasures and ballistic-missile defense, while also leveraging enhanced capabilities and technology. The Belgian navy is currently leading a Belgian-Dutch mine countermeasures replacement program, which will supply the Belgian and Royal Netherlands navies with six new minehunter vessels each.

25 Nov 2022 - 'Outrageous': Brussels sparks fury as it blocks export of nuclear defence tech to UK

The UK needs a so-called specialised isostatic press to maintain its nuclear arsenal, which includes the Trident II D5, the Royal Navy's ballistic missile system with a range of over 4,000 nautical miles

Britain and Belgium are locking horns in a furious despite after Brussels blocked the export of nuclear technology that plays a crucial role in maintaining the UK's nuclear deterrent.

 

III. Was UK planning to replace some Russian energy with alternatives as a policy to bring pipeline LNG and to develop alternatives?

24 September 2020 - UK can be 'Saudi Arabia of wind power' - PM Boris Johnson

12 May 2022 - Where will Britain’s future energy supply come from?

Russian imports supplied only 2.2% of energy used in the UK in 2021..

To account for future changes to gas and oil supply and secure more domestic resources, the Government plans to further utilise North Sea reserves alongside commissioning a scientific review of shale gas extraction.

The Institute for Government (IfG) said the security of the UK’s physical supply will “likely hold up” following possible Russian gas export disruptions to the EU, even without measures from the strategy, due to diversity of supply. 

17 May 2022 - EU energy security: Implications for the UK

How EU dependency on Russian energy affects the UK

The UK is far less reliant on Russian gas than the EU, but security of EU gas supply matters to the UK because:

• it affects the prices of UK gas and electricity;
• it could affect the UK’s own security of supply if gas imports into the UK were re-directed to the EU;
• energy exports are economically important to Russia and changes may therefore affect geopolitical relations.

UK-EU cooperation

Russia’s invasion of Ukraine has stimulated UK and EU cooperation on the security of energy supply. 

At the 30 March 2022 meeting of the UK-EU Specialised Committee on Energy, the UK and EU agreed to facilitate regular exchanges on the security of supply (PDF). They specifically discussed establishing a Working Group on Security of Supply as a matter of priority.

This is because there is insufficient LNG import capacity within the EU, but spare capacity in the UK as well as capacity on the pipelines from the UK to mainland Europe.30 May 2022 - Energy crisis: UK to become MAJOR exporter to EU with huge wind and solar boom

BRITAIN could soon find a way out of the energy crisis, as a new report suggests that the UK could receive a massive supply of green electricity.

28 August 2022 - PM Boris Johnson: The next few months will be tough but I’m convinced Britain’s bounceback will be golden 

We are ending our dependency on Russian hydrocarbons. In June, for the first time in decades, we did not import any fuel from Russia. The UK has already stepped up production of domestic gas – 26 per cent more this year than last. We are going to build a new  reactor every year and will have a colossal 50 gigawatts of offshore wind by 2030 – almost half our total electricity consumption. This British Energy Security Strategy is just a part of a vast  programme to make the economy more productive and competitive.  

30 August 2022 - Jacob Rees-Mogg meets energy giants in bid to boost North Sea oil and gas supplies

City A.M. understands the Brexit Opportunities Minister and Liz Truss-backer held talks with energy giants including Shell over recent days, ahead of a desperate winter which will see energy bills spike to new records – driven by fears of supply shortages.

He is also looking to seal deals with companies operating in the waters of friendly allies such as Norway.

There is confusion over whether Rees-Mogg met oil and gas companies in his role as a Minister or as a supporter of Truss – with multiple Government departments refusing to comment. 

Truss’ senior team has claimed the meetings were set up by civil servants, and was not linked to her campaign.

19 Dec 2022 - The United Kingdom re-engages with the North Seas Energy Cooperation

The United Kingdom (UK) is re-engaging with the North Seas Energy Cooperation (NSEC). At a signing ceremony on Sunday evening, the UK has signed a Memorandum of Understanding (MoU) with NSEC members the European Commission to this effect. This will help make the North Sea the renewables powerhouse of Europe. The NSEC is how North Seas countries collaborate on offshore wind. Cross-border cooperation is key to offshore wind. Countries need to coordinate how they develop their offshore wind farms and connect them to the grid and how they impact on biodiversity.

[M: Belgium is a hub through which UK gets its exports back to the European Energy market post Brexit expulsion from the  Market Coupling Initiative. See a post: Mission accomplished - UK - from Energy Importer to Energy Exporter]

 [M: The importance/connection to wind suggested by LuxFree @LuxFree3 here]

CONCLUSION/SUMMARY:

• It looks like the UK is a rogue state and other states try to minimize its dangerous weapons.
  
  
• Blocking nuclear deterrent of a UN Security member council is a BIG issue. Only a BIG reason could be behind that.
  
  
• The Astute class nuclear submarine HMS S-120 Ambush is my prime delivery vehicle suspect - here 
  
  
• It was said that "If the criminal is bigger than the court, he can’t be found." (by Erik Andersson 🐘 @Erkperk - here) -> IF countries decided that they will not disclose who was it or delay the exposure as far as possible there should be indirect ways how to tell who has done it.
  
  
• That is main reason why no international investigation exists. Shareholders of Nordsgream AG are from Germany, France, Netherland and Russia. Nordstream 2 AG is fully owned by Gazprom with loans from same companies and countries as Nordstream AG. Both companies are incorporated in Switzerland - post here. 
  
  
• The suspect is a state actor. This means motives were part of wider policies - internal and external. UK fits as a prime suspect in both aspects - see here about UK energy security - Mission accomplished - UK - from Energy Importer to Energy Exporter

 

***

- INDEX -

***

Uncovering the truth took over two years of self-funded, tireless investigation.

I decided to open it for free, no paywall, despite huge investment.
Because the truth matters.
Please consider supporting my work with a donation.

Every bit helps keep this mission alive!

mortymer001

(retweet and follow)

038 - Switzerland & the Nordstream affair

PREFACE/ISSUE

Exploring role of Switzerland as a country where Nordstream AG and Nordstream 2 AG are incorporated.

FACT: Both companies are incorporated in Switzerland. They are Swiss companies with international shareholders.

Since opening in 2011, the Nord Stream 1 pipeline has been a sort of umbilical cord connecting Europe to much of the energy it needs to keep its heat and lights on.

By 2020, Russia was supplying nearly a fifth of the natural gas imports in France, for example, about two-thirds in Germany, and 100% in the Czech Republic.

Nord Stream 2 has not been put into operation due to sanctions and agreement between Germany and USA - here yet it was dormant, like a "Sleeping beauty" as Russians said.

I. The original administrative obstacles are stopping NS2 to go online but future is uncertain

6 Oct 2021 - Gazprom's Nord Stream 2 can challenge EU rules, EU court adviser says

Gazprom's Swiss unit can challenge an EU gas rule that requires gas producers to be separate companies from those that control the pipeline, an adviser to the EU's top court said on Wednesday.

 
II. The US deal with Angela Merkel & Scholz

18 Jan 2022 - Scholz: Germany will discuss Nord Stream 2 penalties if Russia attacks Ukraine 

BERLIN — Germany's new government on Tuesday gave the clearest indication yet that it would discuss halting the Nord Stream 2 gas pipeline if Russia attacks Ukraine.

German Chancellor Olaf Scholz offered his strongest warning to date at a press conference with NATO Secretary-General Jens Stoltenberg, where he was pressed about whether penalizing Nord Stream 2 was part of the "severe economic costs" Germany has said Russia will face if it invades Ukraine.

"It is clear that there will be a high cost and that all this will have to be discussed if there is a military intervention against Ukraine," Scholz said.

Scholz said his government "stands by all aspects" of a deal his predecessor Angela Merkel reached with U.S. President Joe Biden last year, under which Germany promised to take action at the national level and press for EU sanctions should Russia "use energy as a weapon or commit further aggressive acts against Ukraine."  

26 May 2022 -  The secret planning that kept the White House a step ahead of Russia

Germany was a reluctant but essential ally, and the Biden administration made a controversial decision last summer that was probably crucial in gaining German support against Russia. Biden gave Germany a pass on an initial round of sanctions against a company building the Nord Stream 2 pipeline in exchange for a pledge from Chancellor Angela Merkel that if Russia invaded, Nord Stream 2 would be scrapped. When the invasion came, Merkel was gone but her successor, Olaf Scholz, kept the promise.

 

III. Sanctions are hitting on both Nordstream and Nordstream 2 AG

26 Feb 2022 - Switzerland faces pressure to toughen sanctions on Russia 

Neutral Switzerland is resisting pressure both at home and from the European Union to impose tougher sanctions against Russia for invading Ukraine.

On Thursday, Swiss President Ignazio Cassis announced that Switzerland would adopt the same EU travel bans for 367 named Russian individuals and companies. But Switzerland stopped short of freezing financial assets, saying it would instead stop its banks from accepting any more money from those on the sanctions list.

Neutrality

Under this principle, Switzerland must maintain a comparably wide distance from two parties in a conflict. However, international law experts agree that this does not apply if, as in the case of Russia, there has been a clear unilateral attack in violation of international law. 

A potential role as mediator in the conflict. Switzerland organised a summit between Russian President Vladimir Putin and his American counterpart Joe Biden in Geneva last June and has repeatedly offered its good offices to both countries. Sanctions could jeopardise the Swiss role in diplomacy.  

Location for business

Switzerland is home to the headquarters of many commodity firms with strong financial involvement with Russia or that are active in the trade of Russian raw materials, such as oil and gas.  

About 80% of Russia’s commodity trading goes through Switzerland, according to the Russian embassy in Bern. Vitol and Trafigura have stakes in a project of Russian oil giant Rosneft and trade in Russian oil, as does commodity trading Gunvor. All three conduct much of their trading activity out of Geneva. 

The headquarters of Russia's controversial Nord Stream 2 pipeline project is also in Switzerland. The project was cleared for sanctions by the U.S. on Wednesday. This gives Switzerland considerable leverage should it decide to use it. 

2 March 2022 - Nord Stream 2 files for bankruptcy, fires employees

[M: this rumour was declined by the company later]

2 March 2022 - Russia sanctions: Nord Stream 2 fires more than 140 people in Zug

Swiss-based company Nord Stream 2, which is in charge of the gas pipeline project between Russia and Germany, has made employees redundant as a result of sanctions following Russia’s invasion of Ukraine.

More than 140 people have lost their jobs at the company, based in the Swiss town of Zug in central Switzerland, according to Economics Minister Guy Parmelin.

The move by Nord Stream 2 is apparently aimed at settling claims ahead of a United States sanction deadline for other entities to stop dealings with it.

13 July 2022 - EU court points to future resurrection of Russian gas pipe (NS2)

8 Sept 2022 - Swiss court gives Nord Stream 2 more time to avoid insolvency. 

In May, the court granted a provisional moratorium against bankruptcy proceedings for the first time, which was valid until September 10. This period has now been extended by another four months.

The Swiss company behind the Russian gas pipeline Nord Stream 2 has received a four-month extension to try to repay its debts. 

[M: Sanctions are against Russian interests but against Swiss company]

 

 *********************************************************

    EUS registered 2 tremors in the Baltic Sea

            on the night of Monday 26 September at 02.03 & at 19.03, 

                                                                 both Danish summer time. 

*********************************************************

IV. Three out of four pipelines of a Swiss companies Nordstream AG and Nordstream 2 AG are attacked in Exclusive Economic Zones (TZ) of Denmark and Sweden

         The Big picture of whole Baltic Sea (EEZs)

According to UNCLOS (United Nations Convention on the Law of the Sea), coastal states have sovereign rights over their EEZs, which includes the exclusive right to authorize, regulate and control any activities related to the exploration, exploitation, conservation, and management of the natural resources within their EEZs.

Therefore, any investigation within the EEZ must be carried out with the consent and cooperation of state which owns the EEZ. Failure to seek consent may result in a violation of state B's sovereignty and may be considered a breach of international law.

  
V. The Nordstream AG and Nordstream 2 AG are not dead 

6 Oct 2021 - Gazprom's Nord Stream 2 can challenge EU rules, EU court adviser says

Gazprom's Swiss unit can challenge an EU gas rule that requires gas producers to be separate companies from those that control the pipeline, an adviser to the EU's top court said on Wednesday. 

18 Oct 2022 - Are sabotage of submarine pipelines an ‘armed attack’ triggering a right to self-defence?

A main difficulty in situations such as the damage on the NordStream pipelines, is that the State invoking the right to self-defence bears the burden of proving the facts showing the existence of such an attack against it by a particular State (International Court of Justice (‘ICJ’), Oil Platforms (2003), [51]). In this connection, generic announcements that an attack or other incident will take place prior to the explosions are insufficient evidence to support that any subsequent attack is the work of the State making such public statements (Oil Platforms, [60]).

An ‘Armed Attack’ against Whom? According to the ICJ in Military and Paramilitary Activities in and Against Nicaragua (1986), as well as in Oil Platforms, an ‘armed attack’ involves ‘the most grave forms of the use of force’. ‘Other less grave forms’ of use of force do not meet this threshold. In Nicaragua, the Court had considered the distinction between an ‘armed attack’ and mere ‘frontier incidents’, and relied on the following criteria to draw this distinction: the ‘scale and effects’ of the attack, and the ‘circumstances and motivations’ of the attack. The ‘scale and effects’ criterion is particularly relevant for assessing whether blowing-up major transboundary pipelines may constitute an ‘armed attack’. 

However, whether attacks on pipelines on the continental shelf and the EEZ as well as on the high seas, would constitute ‘the most grave form’ of use of force qualifying as an ‘armed attack’ against a particular State (or States) is not straightforward.

Separately, although pipelines do not have flags, like vessels, they are owned and operated by companies incorporated in some State jurisdiction. The question arises whether States in whose jurisdiction the company that owns and/operates the pipeline are incorporated may be the victim of an ‘armed attack’ against the pipeline, giving rise to its right to self-defence. In the case of NordStream, this would be Switzerland.  

25 Oct 2022 - Nord Stream 1’s insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars in potential claims 

Nord Stream 1’s major shareholder, with a 51% stake, is a subsidiary of Russian energy group Gazprom. This company is subject to US, UK, and Canada sanctions, as well as certain restrictions by the European Union.

 

Two sources claimed that renewal of Nord Stream 1 coverage by Lloyd’s syndicates could be difficult due to tighter sanctions against Gazprom. This would prevent claims from being paid.

 Lawyers said that Nord Stream’s insurance companies will need to prove their policy doesn’t cover the damage from the blasts to avoid any claims.

A Western state actor could be held responsible for the damage, which might be classified as an act of terror. One source suggested that insurance might cover it.

If Russia is implicated, however, insurance companies could claim it was “self-sabotage” since Gazprom is state-owned.   

28 Dec 2022 - Nord Stream 2 pipeline firm gets 6-month stay of bankruptcy

A Swiss court has granted a six-month “stay of bankruptcy” to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February.

04 April 2022 - Exclusive: German insurers renew cover for blast-damaged Nord Stream gas link

28 April 2022 - Liz Truss - Great to see @ignaziocassis  to discuss deepening ties through an enhanced FTA and stepping up cooperation on sanctions against Russia.

 

VI. Switzerlans is NOT investigating but it should.

27 March 2022 - Security Council Rejects Draft Resolution Establishing Commission to Investigate Sabotage of Nord Stream Pipeline

Security Council Rejects Draft Resolution Establishing Commission to Investigate Sabotage of Nord Stream Pipeline

The Security Council failed today to adopt a resolution, put forward by the representative of the Russian Federation, which would have established an international independent investigative commission into the September 2022 “acts of sabotage” committed on the Nord Stream gas pipeline in the Baltic Sea.

By a vote of 3 in favour (Brazil, China, Russian Federation) to none against, with 12 abstentions, the Council rejected the draft resolution, owing to a lack of sufficient votes in favour.

Switzerland’s delegate, noting her delegation’s abstention, echoed expressions of concern about the events at the Nord Stream pipelines and condemned such attacks against critical infrastructure.

However, Denmark, Germany and Sweden are currently conducting national investigations to shed light on the facts of those events, she said, calling on the Council to wait for their results.  Mandating an additional investigation would not be beneficial at this stage, she added.

[M: Nordstream companies are incorporated in Switzerland, the state could/should be involved.]

 VII. Norway nationalization of pipelines in EEZ

8 April 2023 - Europe's Largest Gas Producer Is Set To Nationalize Its Gas Pipelines

[M: This means that Norway is protecting pipelines by having them covered by state ownership. An attack on nationalized pipelines would mean an attack against Norwegian state. This spells trouble to Switzerland where many international projects are incorporated and for Switzerland as a neutral state.]

CONCLUSION/SUMMARY:

• The attack was at the Swiss company so Switzerland should be demanding to be part of the investigation. They are waiting for DK, SWE, GER to conclude.
  
  
• Russian right to be investigation in attack to Nordstream AG is as big as France´s one. Lawyers rule the world. Shareholders see hope in reopening some time in future.
  
  
• Russian right to be investigation in attack to Nordstream 2 AG as a majority shareholder should be considered. Lawyers rule the world. Gazprom sees possibility of reopening pipeline some time in future.
  
  
• Swiss court decision on 8th of September and its 4 months out-of-bankruptcy extension may have been one of the triggers which provoked the saboteur for the action.
  
  
• The decision by insurers hints that the saboteur is already known and insurance companies have confidence to reinsure for next years.

 

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- INDEX -

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mortymer001

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