The US State Department on Tuesday expanded the scope of sanctions imposed on the Nord Stream 2 natural gas pipeline project. It also warned companies involved in the final portion of the project that they would face penalties if they did not wind down activities within the next 30 days. The expanded sanctions now target companies that facilitate upgrades or equipment installation for pipe-laying vessels for TurkStream, Nord Stream 2 pipeline or any succeeding projects.
Analysts said that the new sanctions were prompted by upgrades of the Russian vessel Akademik Cherskiy that would allow it to lay pipe in the Nord Stream 2 without support from other ships. The project left the final instalment that covered over 150 km in Danish and German waters. When operational, it will double Russian gas flows to Europe in the corridor via the Baltic Sea. It is important for Russia as it can reduce the need to transit gas via Ukraine.
Tags: AlwaysFree,Americas,English,Europe,Gas,Russia and CIS,US
Published on October 21, 2020 2:24 PM (GMT+8)Last Updated on October 21, 2020 2:24 PM (GMT+8)
