• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 8 hours Satellite Moons to Replace Streetlamps?!
  • 1 day US top CEO's are spending their own money on the midterm elections
  • 2 hours EU to Splash Billions on Battery Factories
  • 6 hours U.S. Shale Oil Debt: Deep the Denial
  • 14 hours The Balkans Are Coming Apart at the Seams Again
  • 1 day OPEC Is Struggling To Deliver On Increased Output Pledge
  • 2 hours The Dirt on Clean Electric Cars
  • 31 mins Owning stocks long-term low risk?
  • 1 day Uber IPO Proposals Value Company at $120 Billion
  • 16 hours 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 1 day A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 1 day 10 Incredible Facts about U.S. LNG
  • 1 day U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
The Implications Of A Fractured U.S., Saudi Alliance

The Implications Of A Fractured U.S., Saudi Alliance

With tensions between the United…

Denmark’s New Law Could Block Nord Stream 2

Pipeline

A new law passed by the Danish government could authorize regulators to block the passage of the Russian Nord Stream 2 gas pipeline on security or foreign policy grounds, according to a new report by Reuters.

Under previous laws, the two reasons above would not have constituted valid grounds to reject the construction of a pipeline. Nord Stream 2 will bypass land routes through Ukraine, Poland, and Belarus to supply gas to Germany and surrounding nations. The line’s route cuts through Danish waters in its current form, but Gazprom researchers are investigating a new route that cuts through international waters instead, preventing a showdown in the Danish parliament regarding the project.

The Danish Energy Agency is assessing a submitted application for the Nord Stream 2 line, but the new law applies to all applications being processed, including this controversial one.

Supporters of the project argue that Germany and neighboring countries will get cheap, reliable gas from Russia that will complement—not replace—gas from existing supply routes.

Opponents of the project argue that Russia’s Gazprom will increase its share of the European gas market, which would boost its already dominant position in Central and Eastern Europe, and therefore undermine the efforts of some European countries to diversify their gas supplies away from Russia. Opponents also see Nord Stream 2 as Moscow gaining political leverage over the EU.

Related: U.S. Oil Has One Fatal Weakness

Nord Stream 2—currently planned for completion by the end of 2019—faces stiff opposition from Poland, the Baltic countries, and several other EU countries. Germany, on the other hand, which will be the main beneficiary of the new gas supplies, says that the project is just business, and should not be made political.

“There is existing, well-functioning gas transportation infrastructure in place to ensure Europe’s energy supply. Building Nord Stream 2, would, at the same time, endanger existing transport routes, notably via Ukraine,” the European Commission has said in the past.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:


x

Join the discussion | Back to homepage

Leave a comment
  • Dean Lazarus on December 06 2017 said:
    The US government is attempting to save Franklin Templeton bond bet.
  • reality check on December 01 2017 said:
    "Opponents of the project argue that Russia’s Gazprom will increase its share of the European gas market"

    "Building Nord Stream 2, would, at the same time, endanger existing transport routes, notably via Ukraine,”

    Specious reasoning, via two contradictory arguments. How will forcing the same volume of gas through Ukraine instead of Nordstream 2 'increase' Gazprom's share of the European market.

    This isn't Adam Smith's guiding hand. This is the guiding hand of drunken knaves.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News