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FX.co ★ Future of Nord Stream 2 in question

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Forex Humor:::2020-01-03T10:47:44

Future of Nord Stream 2 in question

Perhaps Nord Stream 2 is viewed as one of the most controversial construction projects on a global scale. It is widely promoted in the pro-Kremlin mass media. Reportedly, the gas pipeline has been almost over and is going to be put into operation soon despite sanctions imposed by Washington. At the same time, citing the Western media, there is virtually a nil chance that the construction will be completed on schedule. Besides, the question is still open whether the pipeline will be actually launched. US President Donald Trump again toughened his anti-Moscow rhetoric and signed an appropriate bill in late December. That bill includes sanctions on the companies involved in the construction of the two Russia-backed pipelines – Nord Stream 2 and Turk Stream. In response, Swiss-Dutch company Allseas Group immediately suspended laying pipes for Nord Stream 2. To make things worse, the firm confirmed its withdrawal from the project. Earlier, Russia had forged ahead with the project, making huge efforts to obtain permission, to attract partners, and assure them of the project’s feasibility. In fact, Russia has neither proper equipment nor technology at its disposal. As of November 2019, experts reckoned Nord Stream 2 was 80% complete. Before the US sanctions, the Kremlin’s officials had said that the pipeline would be launched around the middle of 2020.

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