Nord Stream 2 pipeline to be completed despite US Sanctions, says Russia

Russia asserted that the Nord Stream 2 pipeline under the Baltic Sea will be completed despite sanctions approved by the US Senate against companies working on the project. Nord Stream-2 is one of the two Russian projects in Europe to supply gas to Germany and expected to start in mid-2020. It is considered as a key part project to deliver gas to Europe via Baltic.

On December 17, the UN Senate approved a defence bill to impose sanctions on Russian companies but won’t have much effect as the project is already in its last phase. The National Defense Authorization Act (NDAA) covers a broad range of defence policy and military spending. The two Russian pipelines are expected to start soon to increase its supply to European countries which will bolster Russia’s position strategically.

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'Power of Siberia'

Russia recently inaugurated 3000-kilometre gas pipeline from Siberia to China. The ‘Power of Siberia’ pipeline, Russia’s one of the three ambitious projects, was launched via a video link which will also challenge the monopoly of state-owned China National Petroleum Corp (CNPC), or PetroChina. Power of Siberia gas pipeline is part of the $400 billion deal, struck between Russia’s Gazprom and CNPC, to supply 38 billion cubic metres (BCM) a year for 30 years. 

Read: Russia And China Set To Launch Gas Pipeline ‘Power Of Siberia’

The implementation of cross-regional projects in Russia promotes the development of many regions including ones with such a facility on their territory will receive additional infrastructure, additional jobs, a Russian news agency quoted Kremlin spokesperson Dmitry Peskov. The construction of the first section of the Power of Siberia pipeline started in September 2014 and will supply gas from the Chayandinskoye field during the first stage.

According to reports, Russia will become a major exporter of gas to China by 2025 since the Power of Siberia pipeline will start delivering virtually half of the current Chinese Liquified Natural Gas (LNG) imports. Power of Siberia has been hailed as engineering and logistical triumph since it crosses through the hostile terrain of Irkutsk, Amur and Sakha regions.

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(With inputs from agencies)