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    US Warns Companies to Withdraw from Nord Stream 2

Summary

The project is a "bad deal" for Europe, the state department said.

by: Joe Murphy

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Complimentary, NGW News Alert, Natural Gas & LNG News, Political, News By Country, United States

US Warns Companies to Withdraw from Nord Stream 2

The US state department issued a statement on March 18 warning that "any entity involved in the Nord Steam 2 pipeline risks US sanctions and should immediately abandon work on the pipeline."

The US sanctions regime aims to punish companies involved in Nord Stream 2's installation, certification and insurance. Around 20 companies, mostly insurers, have reportedly left the project in recent months in response to the threat. 

The state department described the project as a "bad deal – for Germany, for Ukraine and for our central and eastern European allies and partners."

"The department is tracking efforts to complete the Nord Stream 2 pipeline and is evaluating information regarding entities that appear to be involved," it said. "As multiple US administrations have made clear, this pipeline is a Russian geopolitical project intended to divide Europe and weaken European energy security."