On March 1 the Valdai Club hosted an expert discussion, titled “Gas Pipeline Projects From Russia to the EU: Risks and Prospects”.
Russia and the European Union are strategic partners in the energy sector. Despite the complication of political relations in recent years, the implementation of large energy projects continues. The key one is the Nord Stream 2 gas pipeline under the Baltic Sea.
The project has met serious pressure from the United States. Washington has imposed several rounds of sanctions. Under the influence of restrictive American measures, a number of contractors refused to work on the project, which has slowed down the construction of the gas pipeline. The change of power in the United States has not changed Washington’s approach to the project. The United States has stated that it opposes Nord Stream 2 primarily for geopolitical reasons. One of the last steps of the Americans was the inclusion in the next sanctions list of the Fortuna vessel, which is involved in the construction of the gas pipeline. Despite the sanctions, construction continues and is nearing its final stage. However, the risks of new US measures to thwart the project remain.
Is Washington capable of stopping the implementation of Nord Stream 2? What can Russia and the EU do to secure joint projects from extraterritorial sanctions? What are the strategies of private companies in relation to threats of US sanctions? The participants in the discussion answered these and other questions.
Working languages: Russian, English.