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Oil, Gas, Petrochemical and Energy Field Specialized Channel

New US Proposal to Sanction Nord Stream 2 is Unreasonable

Nord Stream 2 project envisages two pipelines that will be routed via the Baltic Sea.

 

The bill on sanctions against planned Nord Stream 2 gas pipeline from Russia to Germany appears "absurd" and defying market laws, Russian Energy Minister Alexander Novak said Friday.

"I have not seen this law, we have to look at it from the legal point of view, but [judging by] what the media are writing, I think this is quite an absurd bill that negates all market rules," Novak told reporters.

Senator Bill Barrasso on Wednesday said he had introduced a draft law, the ESCAPE Act, in the Senate. The law would help speed up liquefied natural gas deliveries to US allies and authorize mandatory sanctions against any development of Russian energy pipeline projects including Nord Stream 2.

The United States has made its concerns over Nord Stream 2 clear. Earlier this week, US President Donald Trump said that he was not sure the pipeline was in Germany's best interests and added that the United States would compete with Nord Stream 2 by selling LNG.

Nord Stream 2 project envisages two pipelines that will be routed via the Baltic Sea.

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