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BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

France's ENGIE may suffer $1B loss if Nord Stream 2 files for bankruptcy

  • By Al Mayadeen Net
  • Source: Agencies
  • 2 Mar 2022 23:32
2 Min Read

French energy company ENGIE faces is risking a $1 billion loss if Nord Stream 2's operator files for bankruptcy.

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  • ENGIE has helped finance Nord Stream 2 since 2017
    ENGIE has helped finance Nord Stream 2 since 2017

French energy giant ENGIE is facing a financial risk of $987 million if Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, files for bankruptcy.

Russia is currently facing Western sanctions over its decision to launch a special military operation in Ukraine to "protect the Donbass Republics, and to de-Nazify Kiev."

Read more: Russian gas will not be replaced, EU made huge mistake - Former US colonel

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Engie's board of directors announced their decision not to engage in any industrial activities in Russia, and not to partake in any investment in the country.

"Regarding the Nord Stream 2 project, that ENGIE helped finance since April 2017 alongside four other European investors, the Group, as a lender, is exposed to €987million of credit risk which could impact its accounts in the event of Nord Stream 2 filing for insolvency," the company said in a statement. 

ENGIE also said it will support Western sanctions against Russia, even if these sanctions affect gas supplies from Moscow.

"Should European sanctions affect Russian supplies – which account for 40% of all  European gas needs, across all operators - ENGIE would comply with such decision at all levels," the company's statement said, adding that it would "work hand-in-hand with authorities."

French President Emmanuel Macron said on Wednesday that many sectors of France's economy are suffering as a result of the conflict with Ukraine.

"Our agriculture, our industry, many sectors of the economy are suffering and will continue to suffer, either because they depend on primary raw materials imported from Russia or Ukraine, or because they export to these countries," Macron said in a televised address to the French people.

  • Russia
  • Sanctions on Russia
  • France
  • Nord Stream 2

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