Nord Stream-2 is under threat

Nord Stream-2 is under threat

(News 24h) – Russian and German gas projects could lead to a halt because of the latest US sanctions, which will be applied this Tuesday.

Russia’s TASS news agency reported that Kremlin spokesperson Dmitry Peskov made the first comments on the imposition of further US sanctions on the Nord Stream-2 project, effective on the day of January 19.

Nord Stream-2 is under construction
Fortuna is operating near the German port of Rostock to carry out the part of the Nord Stream-2 pipeline in Danish waters.

Accordingly, Mr. Peskov stated that the Nord Stream-2 project is facing “cruel and illegal” pressure from the US. It is regrettable that this pressure policy continues and even increases, Mr. Peskov said.

The Kremlin was reviewing actions against the Washington project and was looking to complete the project despite pressure from the sanctions, the spokesperson confirmed.

Meanwhile, the head of the Economic and Energy Commission of the German House of Representatives, Klaus Ernst, said that US sanctions against the Nord Stream-2 pipeline project are unacceptable and confirmed. , the sanctions will not achieve the desired effect.

Mr. Klaus Ernst urged Berlin to summon the special envoy in the US to return home and “definitively explain” the German government’s stance on the Nord Stream-2 and US sanctions efforts.

Mr. Klaus Ernst expressed concern that Washington’s policy may not change under US President-elect Joe Biden. The legislator suggested that Berlin impose huge tariffs on liquefied gas from the US if that happens.

Most notably is the somewhat apprehensive response from the investor of the project, who is also a member of the Nord Stream-2 operator, Gazprom Group.

The Gazprom Group in a statement on Tuesday openly admitted that the project is likely to fail. This is Gazprom’s first time making such a statement.

In a report by Gazprom in fulfilling its obligation to inform investors about the risks of the project, reported by German newspaper Der Tagessiegel, the Russian gas giant stated, the change of the political conditions under which Nord Stream 2 and other projects must be followed. In special cases, such as political pressure, such a project may be “suspended or stopped”.

Even as the Fortuna pipe-laying vessel continues to be used despite US sanctions, there are other barriers to the project. Norwegian pipeline company DNV GL, is said to have confirmed it will withdraw from the project because of the new sanctions announced by Washington.

Zurich Insurance Group also announced that it will no longer provide insurance services for the project due to US sanctions.

Meanwhile, the civil pressure in Germany defends the view that the Nord Stream-2 project cannot be built further.

Kai Niebert, president of the German Union for Conservation of Nature, said Nord Stream-2 “is a crazy energy and climate policy and must be stopped immediately”.

Mr. Niebert supports the view that the project is “fundamental to the geopolitics and relations of the East” of Germany.

Hai Lam


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