A Billion Deal: why North Stream-2 benefits Washington

If the US administration is to defend the interests of the American energy industry, it will have to abandon attempts to interfere with the construction of Nord-Stream 2.

For Washington, the Nord Stream-2 gas pipeline meant the loss of the European energy market. The US can only supply liquefied natural gas to Europe. However, LNG is much more expensive than pipeline gas from Russia. In this regard, the Donald Trump administration tried in every possible way to sabotage the construction and launch of Nord Stream-2. Under the pretext of “protecting European partners”, Washington has threatened EU companies that will participate in the Russian project with sanctions.

Against this backdrop, Germany has offered the United States a deal that could end the confrontation and launch Nord Stream-2. According to the German newspaper Die Zeit, Germany is ready to finance the construction of two terminals for receiving American LNG in Brunsbüttel and Wilhelmhaven. We are talking about an amount of approximately one billion euros.

“In return, the United States will not interfere with the completion and operation of the Nord Stream-2 gas pipeline”, – says a letter sent by the German Vice Chancellor to US Treasury Secretary Stephen Mnuchin back in August.

It should be noted that the interest of European consumers in American liquefied gas has declined. Since the beginning of 2020, Europe has received 64.2 billion cubic meters of LNG, which is 3.9% lower than a year earlier.