The German business newspaper Handelsblatt calculated the risks that American companies face in light of threats from their government to impose sanctions on the Nord Stream-2 project.
According to analysts of the publication, the actions of the US administration on the European continent may lead to the failure of projects in the Gulf of Mexico.
The Handelsblatt published an article with a headline “US is harming itself with Nord Stream 2 sanctions”.
“From Berlin’s point of view, the U.S.-sponsored European Energy Security Act is just yet another Washington’s threat to impose sanctions.They touch upon a key energy project Germany is most interested in: the construction of the Nord Stream gas pipeline -2 “, designed to supply Germany with more blue fuel from Russia. These measures have not been taken yet, the package must go through the Senate and House of Representatives. But it is unlikely that legislative approval of these measures will get resistance.There is a rare inter-party on the question concerning anti-Russian sanctions in a politically divided America consensus … Meanwhile, the threat of sanctions is so great that the USA cannot figure out the possible consequences in the United States. However, American oil and gas companies may suffer from ownselves…” – the publication says.
“In an attempt to stop to stop a 75% project , the Americans targeted European companies in charge of pipeline installation: Allseas, headquartered in Switzerland ,Wurzeln in the Netherlands, and Saipem from Italy. These companies play a crucial role in the global energy market: with the help of highly specialized vessels, they are able to lay pipelines at great depths, – recalls Handelsblatt. – The sanctions law requires the US government to take measures against enterprises that are actively involved are actively involved in gas pipelining at a depth of 100 feet (about 30 meters) below sea level. Such a wording was chosen deliberately to affect Allseas and Saipem. Although Saipem has already completed work on Nord Stream 2, which reduces the risk of sanctions for Italians. “
Meanwhile, these enterprises with their specialized vessels operate not only in the North and Baltic Seas, but but were also located in the Gulf of Mexico for many years.
They served as subcontractors of such American concerns as Chevron and Exxon Mobil. They install pipelines there, Saipem ships are additionally involved in oil and gas exploration drilling. “So if the sanctions are imposed, American projects in the Gulf of Mexico will be in jeopardy. The services of these companies cannot be quickly replaced. Representatives of the American oil industry are wary of Washington’s intent to include Allseas and Saipem on their black lists. The professional community recognizes that American energy lobby has repeatedly brought to the attention of Washington that both enterprises are indispensable and very important for the projects in the Gulf of Mexico – Handelsblatt concludes. It is also noted that European companies do not comment on this topic, and all possible requests regarding sanctions are left unanswered.Moscow concerned over situation following Israel’s attack in Lebanon — foreign ministry