LNG

March 30 (LNGJ) - The Danish Energy Agency said that the suspicious object found on the Baltic Sea bed beside the Nord Stream II pipeline had been assessed on a salvage mission just carried out and was found not to pose a danger. With a view to further clarifying the nature of the object, Denmark decided to salvage the object with assistance from the Norwegian Armed Forces.

   “The defence forces have stated that the salvage was carried out at a depth of 73 metres. The salvage took place with the participation of a representative from the owner company Nord Stream II AG,” the Agency stated. “The investigations indicated that it was an empty smoke buoy, which is used for visual marking. The object does not pose a security risk. Other questions regarding the salvage and the object are referred to the Norwegian Armed Forces,” it added.

The Danish Energy Agency has offered the Nord Stream AG company the chance to participate in the salvage of an observed object near the sabotaged pipelines under the Baltic Sea that were put out of operation by unexplained explosions in September 2022 and led to the Germans adopting LNG as a replacement fuel.

Russian natural gas pipeline supplier Gazprom said it was ready in technical terms to build new gas pipelines to Turkey via the Black Sea and building on existing TurkStream and BlueStream links rather than restoring the damaged Nord Stream pipelines linked to Germany under the Baltic Sea.

European natural gas and LNG markets entered a strongly priced November cycle as liftings from export plants were lower and spot charter prices much higher while North Asian spot LNG prices followed behind Europe’s increased demand as Nord Stream options destroyed.