AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

France said Thursday it will support EU oversight of new offshore energy pipelines in a move that could cripple a controversial new link between Russia and Germany. The move puts Paris at odds with Berlin which has championed the highly contested Nord Stream 2 gas pipeline that is to run from Russia under the Baltic Sea to an end-point in Griefswald in Germany.
European member states are set to discuss extending EU gas market rules to offshore pipelines at a meeting in Brussels on Friday, with Germany opposed to the move because of its potential impact on Nord Stream 2. "France intends to support the adoption of this directive," France's foreign ministry said in a statement. "Work is continuing with our partners, in particular with Germany, on modifications that could be made to the text." Nord Stream 2 faces opposition from many countries in eastern and central Europe, the United States and particularly Ukraine because it risks increasing Europe's dependence on Russian natural gas.
Combined with the planned TurkStream pipeline across the Black Sea, Nord Stream 2 would mean Russia could also bypass Ukraine in providing gas to Europe, robbing Moscow's new foe of transit fees and a major strategic asset.
"We are not for or against Nord Stream 2," a French diplomatic source told AFP on condition of anonymity. "We are asking that there are guarantees for the security of Europe and for the security and stability of Ukraine."
German Chancellor Angela Merkel has so far insisted that the pipeline is a "purely economic project" that will ensure cheaper, more reliable gas supplies.
Construction has already begun, involving companies such as Germany's Wintershall and Uniper, Dutch-British Shell, France's Engie and Austria's OMV.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.