Posted by: 11-11-2018, 09:14
Oil Price: Nord Stream 2 - is unstoppable!
Gazprom and Western investors, especially Shell, OMV, Wintershall and Engie, supported by the governments of Russia and Germany, strongly criticize Eastern Europe, the United States and the European Commission. However, despite the strongest pressure from opponents of Nord Stream 2, Oil Price (OP) believes this project will be successfully completed.
The capacity of the second stage of the pipeline, which runs parallel to the first, will be 55 billion m³ per year. Reducing gas reserves in the North Sea and the desire to switch to a cleaner form of energy, which is compared to coal gas, speak in favor of blue fuel and gas pipelines through which it goes to consumers, including Nord Stream 2, but fear of increasing gas dependence from Russia forced the European Commission to interfere with its construction by political and legal means. However, all attempts to disrupt the construction of the pipeline are broken by the resistance of Germany, which steadfastly reflects the attacks of Brussels, backed by Eastern European countries.
The main European economy, German, needs cheap energy in order to keep German prices low and make them competitive. Berlin stands firm: “Nord Stream 2” is a commercial project that has nothing to do with politics. In addition, Chancellor Merkel, who is rapidly losing credibility with the Germans, cannot afford to look weak in the eyes of both German voters and European partners and give way to Donald Trump’s frank pressure, which is trying to force her to give up Russian gas and replace it with expensive liquefied gas (LNG) from America. Of course, she cannot just openly break with American allies. Therefore, the German government, as a gesture of goodwill, agreed to build a terminal for receiving LNG from overseas, which it by and large does not need. The Germans have until the end of the year to choose its place of construction.
It is possible that the consent of Berlin to supply LNG forced Trump to soften the position in relation to Nord Stream 2, and high-ranking administration officials hinted that American sanctions would most likely not be applied to European companies involved in its construction.
Nord Stream 2 is fully consistent with the strategy of the Russian giant, which consists in replacing diminishing gas reserves on the continent with Russian gas. At the same time, the gas pipeline, the PR considers, also serves the interests of Moscow.
Construction of the Nord Stream 2 is already underway. Before the arrival of autumn, it mostly went on the shore and in the territorial waters near St. Petersburg, places where the pipes would disappear under water, and Germany near Greifswald, where they would come ashore. On September 5, on board the 300-meter Solitaire pipe-laying machine, a team of 420 people began to weld 12-meter-long 24-ton pipes. Work goes on around the clock, seven days a week. On the day of the ship is able to lay 3 kilometers of pipes. Thus, it will take 13 months to lay the 1,200-kilometer gas pipeline.
The chances of stopping the construction of Nord Stream 2 are melting away, according to the PR, with each pipe lowered to the seabed. The European Union has already tried all the legal and political means, but has not received any results. The last hope of the opponents of the gas pipeline is new US sanctions, but they must be superrigid to make Gazprom’s European partners back up. However, such a scenario is unlikely. Firstly, Berlin now has a trump card - the LNG terminal, and secondly, in the case of the worst scenario - the withdrawal from the project of European companies - Gazprom, with the help of the Kremlin, will still find money and complete the construction.
There is no way back.
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