Russia gas export pipeline in jeopardy as Trump signs sanctions bill
WASHINGTON (Reuters) – Swiss-Dutch company Allseas said it had suspended work on building a major Russia-to-Germany natural gas pipeline in order to avoid U.S. sanctions contained in legislation signed by President Donald Trump on Friday.
The move throws into doubt the completion date of the $11 billion project that Moscow had said would be ready in months, jeopardizing plans to quickly expand Russian sales of natural gas to Europe via pipeline.
The participation of privately-held Allseas, a specialist in subsea construction and laying underwater pipeline, is integral to the completion of Nord Stream 2, led by Russia’s state energy company Gazprom.
“In anticipation of the enactment of the National Defense Authorization Act (NDAA), Allseas has suspended its Nord Stream 2 pipelay activities,” the company said in a statement dated Dec. 21, seen by Reuters shortly before Trump signed the bill.