Published On: Tue, Aug 11th, 2020

Nord Stream 2 chaos: Huge blow for Germany and Russia as US sanctions threaten oil project | World | News

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The multi-billion pound Nord Stream 2 will run through the Baltic Sea and supply gas to Germany and the EU. But German energy company Uniper warned it could be forced to freeze construction due to US sanctions. Delays in the building of the Berlin-backed €9.5billion Nord Stream 2 gas pipeline across the Baltic Sea to the EU means the project could be scrapped altogether.

A report by Uniper said: “As the US intensifies its efforts to target sanctions against the Nord Stream 2 project, the likelihood of a delay or even a halt in pipeline construction increases.”

It comes after US senators Ted Cruz, Tom Cotton and Ron Johnson wrote a letter to the management of Faehrhafen Sassnitz GmbH and warned them of grave consequences unless the company stops using the port of Mukran as the logistical base for Nord Stream 2, according to Handelsblatt newspaper. 

German Foreign Ministry spokesman Christopher Burger said the US sanctions “contradict the law”. 

Its construction is being funded by Russian state-owned energy giant Gazprom and a group of major European energy firms who say the project will help reduce carbon dioxide emissions by providing cleaner fuel to Europe.

The pipeline itself will transport 55 billion cubic meters of gas a year from Russia to Germany under the Baltic Sea.

It was Germany’s support for the pipeline which was the main reason why the plan got a green light despite resistance being shown from the European Commission and many other EU countries.

Berlin’s political establishment believe Nord Stream 2 is a way in which Germany can put a stop to any conflict with Russia.

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