Topic of the month: Gas transportation from Russia

EN - Gasmarkt  /  Dr. Heiko Lohmann

Shortly before Christmas, the showdown took place regarding US sanctions against Nord Stream 2 (to use the abbreviated version) as well as the negotiations for future Ukraine transit. Almost at the same time, a general agreement for the future transit was achieved and the US sanctions against Nord Stream 2 decided. This was already known and mentioned when the January edition went to print. In January, more details became known and a first impact assessment is feasible. In the following, a description of the details and the impact is provided.

1.1 Nord Stream 2 sanctions

The Protecting Europe’s Energy Security Act (PEESA) very specifically stipulates sanctions against all persons that in any way provide (sell, lease, rent, let) vessels able to lay pipes in a water depth of more than 1000 inches (30 metres). And although the act allows a 30-day period to finish work, Allseas, the company that owns the two pipe-laying vessels for Nord Stream 2, withdrew the ships immediately after the act was signed by the US President. Only a few days later the company announced the complete abandonment of the project. The reason Allseas acted so promptly immediately becomes clear when one reads the letter the two Senators Ted Cruz and Ron Johnson wrote on December 18 to Edward Heerema, the Allseas CEO (Ted Cruz published the letter on his web page)...

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