The Nord Stream 2 project is getting more and more expensive. Though Russia is a rich country, this grand-scale construction can turn out to be a costly affair even for it. Indeed, the project is quite difficult to implement so it requires hefty investments. Moreover, American sanctions may induce extra charges.
Yet another package of restrictive measures against the Nord Stream 2 may become a reason for blocking 700 million euros that are to be allocated for the completion of construction. In addition, a hefty sum of 12 billion euros may also fall under sanctions. Various companies invested this sum in the EU energy sector, and 8 billion euros of it were intended for the Nord Stream 2. Presumably, those sanctions are of political nature and connected with the annexation of Crimea. Nord Stream 2 AG believes the sanctions are targeted at ramping up supplies of more expensive LNG from the United States to Europe and trampling a potential competitor. According to the company’s representatives, without the Nord Stream 2 gas pipeline, the European manufacturers and consumers will have to pay extra billions of dollars for gas.
The American lawmakers, in turn, have a strong belief that the pipeline puts a threat to the US national security, so they suggested to scale up the sanctions. The senators intend to extend restrictions on the insurance companies providing their services to pipelayer ships.
