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    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

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    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

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    Federal Government approves 30-year concession for Enugu Airport

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    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

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    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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Canada to return Russia’s gas turbine via a sanctions induced rigmarole

Saturday, 9 July 2022, 4:16 pm
in Business, Industry, News, World
0
Canada to return Russia’s gas turbine via a sanctions induced rigmarole
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Canada and Germany is said to have come to an agreement to return the Russian gas turbine seized in Canada due to the sanctions Canada imposed on Moscow following the Russian invasion of Ukraine.

Reuters reported that Germany on Friday confirmed that the government had received a positive signal from Canada regarding the delivery of a turbine needed for the maintenance of the Nord Stream 1 gas pipeline to Germany, but could not say that the turbine had been delivered.

Read also; Why I accepted to be Obi’s running mate – Datti Baba-Ahmed

A Siemens gas turbine belonging to Russia’s Gazprom-affiliated Nord Stream AG has been held up in Canada after it underwent some servicing. The failure to return the turbine serviced by Germany’s Siemens Energy in Canada has forced Nord Stream AG to reduce the flow through the gas pipeline to 40% of capacity.

Nord Stream 1 is part of the Nord Stream a set of offshore natural gas pipelines in Europe that runs under the Baltic Sea from Russia to Germany. It runs from  Vyborg in northwestern Russia, near Finland to Lubmin in the northeastern German state of Mecklenburg-Vorpommern.

In a rigmarole move that is supposed to side step Canadian sanctions, the turbine will first be delivered to Germany, and then Germany will send it on to Gazprom.

The Kremlin on Friday said it would increase gas supplies to Europe if the turbine was returned.

Ukraine opposes Canada’s handing over the turbine to Gazprom and Kyiv believes such a move would flout sanctions on Russia, a Ukrainian energy ministry source said on Thursday.

Siemens Energy declined to comment on the news.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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