Will North Stream-2 become an investment wreck at the bottom of the Baltic Sea
To maintain its strong position as Europe’s major gas supplier, Russia has announced that it will complete the Nord Stream-2 across the Baltic Sea. It is a 150km pipeline that will cost her $ 10 billion, relying on the support of Germany, which has repeatedly stated its intention to complete the project, despite serious criticism from the United States.
Russia’s claims that it will complete the Nord Stream-2 project itself are more Putin’s propaganda than a real possibility. It is more than clear that the US will not abandon its intentions to halt the construction of the pipe to punish Moscow for tenting in the 2016 presidential election. They are ready to impose another sanction law, Handelsblatt writes, and this time the measures could to affect European investors involved in the project or companies wishing to buy North Stream-2 gas.
“We are aware that Americans are determined to prevent the construction of Nord Stream-2. We have to prepare for the worst,” a spokesman for German energy concern Uniper, which is involved in financing the pipeline, told the newspaper.
In this situation, it is highly doubtful whether the Kremlin is ready to turn a $ 10 billion pipeline into an investment wreck at the bottom of the Baltic Sea.