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U.S. Warns Sanctions Possible If Nord Stream 2 Pipe Proceeds

Royal Dutch Shell Plc, BASF SE’s Wintershall unit, Uniper SE, OMV AG and Engie SA have agreed to provide Russia’s Gazprom PJSC with financing for the project.

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The U.S. stepped up its opposition to the Nord Stream 2 natural gas pipeline linking Russia and Germany, saying the project raises security concerns and that it could draw U.S. sanctions. The U.S. opposes the project because it will increase Europe’s reliance on Russia for gas supplies. It’s also worried the pipeline could open ways for Russia to install undersea surveillance equipment in the Baltic Sea, said Sandra Oudkirk, U.S. Deputy Assistant Secretary of State for Energy diplomacy. FULL ARTICLE

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