New U.S. sanctions unlikely to derail Nord Stream 2

OILPRICE | It is difficult to surprise anyone in today’s world with another set of sanction-slapping. A bipartisan group of US senators has expressed its intent to put another spoke in the wheel of Gazprom’s 55 BCm per year Nord Stream 2 pipeline. The new bill would amend the 2019 Protecting Europe’s Energy Security law by extending its force to entities that provide “underwriting services or insurance or reinsurance” relating to the construction of Nord Stream 2 as well as provide “services or facilities for technology upgrades or installation of welding equipment for, or retrofitting or tethering of vessels”.


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