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FX.co ★ US loses interest in Nord Stream 2

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Forex-Humor:::2020-07-24T11:26:55

US loses interest in Nord Stream 2

Serious internal problems are forcing the United States to loosen its grip on the foreign policy. Indeed, it is very difficult to stand up for national interests outside the country when there are so many domestic challenges. Now, the White House does not have much time to pose obstacles to the Russian Nord Stream 2 gas pipeline.

The project itself can hardly be called Russian, since France's Engie, Austria's OMV, the UK-Dutch company Shell, as well as Germany's Uniper and Wintershall energy firms have invested 6 billion euros in it. That is why they are rightful co-owners of the pipeline. However, the United States and the authorities of a number of European countries are confident that Nord Stream 2 is a political project aimed at getting Europe addicted to Russian gas. Since the very beginning, Nord Stream 2 has been facing strong resistance from the United States. As a result, the pipeline construction took longer, while its launch was postponed several times. Nevertheless, patience, hard work, and hundreds of millions of euros spent by Russia on lobbying has done the trick. The Danish Energy Agency has finally authorized the use of Russian ships capable of laying the remaining 150 km of pipes. Therefore, Nord Stream 2 has every chance to be completed.

True, such difficulties resulted in lower expectations related to the project's implementation. Most of the Russian gas and oil pipelines are partly loaded, while some are not used at all. This probably explains Denmark's stalling tactic and why the United States has lost interest in the pipeline.

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