Decision not to slap sanctions on Nord Stream 2 to speed up launch of project, says Fitch

The US’ decision not to impose sanctions against the operator of the Nord Stream 2 project may speed up completion of the gas pipeline’s construction, Fitch group director Dmitry Marinchenko told TASS, adding that the launch of the pipeline may be expected within a couple of months.

US Secretary of State Antony Blinken confirmed earlier this week that it is in American national interests not to impose sanctions on the Nord Stream 2 operator, Nord Stream 2 AG, and the company’s Chief Executive Officer Matthias Warnig. Meanwhile, he noted that Washington decided to impose sanctions against a number of participants of the pipeline’s construction.

Marinchenko finds it difficult to estimate the precise date of completion of construction now as the issue is only about lifting of part of sanctions. "But in any case, the removal of even part of sanctions is good news and increases the chances that the construction of the gas pipeline may be completed within several months, meaning by the end of the year," he said.

Director General of the National Energy Institute Sergey Pravosudov believes that maintaining the status quo of the pipeline’s construction will be the main effect of the US’ decision on the project. The adoption of new sanctions could have postponed the commissioning of Nord Stream 2, whereas now it is going to be implemented as announced earlier, he said.

"It could have slowed down the project, another operator would have been set up. It could have made the situation more difficult, but it would have not resulted in the project’s closing, it is impossible as it is almost 100% ready," the expert noted.