{"id":215708,"date":"2024-11-25T02:22:59","date_gmt":"2024-11-25T00:22:59","guid":{"rendered":"https:\/\/www.arabtelegraph.com\/?p=215708"},"modified":"2024-11-28T21:39:49","modified_gmt":"2024-11-28T19:39:49","slug":"us-unlikely-to-let-american-investor-buy-nord-stream-2-pipeline-us-itself-destroyed-economist","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=215708","title":{"rendered":"US Unlikely to Let American Investor Buy Nord Stream 2 Pipeline US Itself Destroyed &#8211; Economist"},"content":{"rendered":"<div class=\"article__header\">\n<div class=\"article__announce-text\" dir=\"ltr\">The Nord Stream 1 and 2 natural gas pipeline network was rocked by explosions in September 2022, just months after President Joe Biden threatened to &#8220;bring an end&#8221; to the energy project in the event of an escalation in Ukraine. Now, a US investor reportedly wants to buy Nord Stream 2. Sputnik asked a renowned economist what this means.<\/div>\n<\/div>\n<div class=\"article__body\" dir=\"ltr\">\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">If the Ukraine crisis were to end, there would \u201clikely\u2026be huge pressure to get the pipelines repaired\u201d from a Europe starved of energy. \u201cAny new owner would become immensely rich,\u201d the economist stressed.government, widely suspected of\u00a0playing an instrumental role\u00a0in the energy infrastructure&#8217;s sabotage, would be unlikely to allow it, veteran British economist Dr. Rodney Shakespeare told\u00a0<em>Sputnik<\/em>.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"quote\">\n<div class=\"article__quote\">\n<div class=\"article__quote-bg\">\n<div class=\"article__quote-bg-line\"><\/div>\n<\/div>\n<div class=\"article__quote-text\">\n<p>\u201cAmerica destroyed the pipelines because secret American policy is to keep Germany and Europe dependent on (expensive) American gas supplies. So the businessman is unlikely to get permission,\u201d Shakespeare, a visiting scholar at Indonesia&#8217;s Trisakti University and co-founder of the\u00a0Global Justice Movement, explained.<\/p>\n<\/div>\n<div class=\"article__quote-info\">\n<div class=\"elem-info\">\n<div class=\"elem-info__share\">\n<div class=\"share m-active\" data-id=\"1120985564\" data-url=\"https:\/\/sputnikglobe.com\/20241124\/us-unlikely-to-let-american-investor-buy-nord-stream-2-pipeline-us-itself-destroyed---economist-1120985564.html?share-block=1120985709\" data-title=\"\u201cAmerica destroyed the pipelines because secret American policy is to keep Germany and Europe dependent on (expensive) American gas supplies. So the businessman is unlikely to get permission,\u201d Shakespeare, a visiting scholar at Indonesia&amp;#x27;s Trisakti University and co-founder of the Global Justice Movement, explained.\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">If the Ukrainian crisis were to end, there would \u201clikely\u2026be huge pressure to get the pipelines repaired\u201d from a Europe starved of energy. \u201cAny new owner would become immensely rich,\u201d the economist stressed.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">But even then, Shakespeare warned that given the hostility of US policy toward the project, there\u2019s no guarantee that the repaired pipelines wouldn\u2019t \u201cbe blown up again.\u201d<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"quote\">\n<div class=\"article__quote\">\n<div class=\"article__quote-bg\">\n<div class=\"article__quote-bg-line\"><\/div>\n<\/div>\n<div class=\"article__quote-text\">\u201cMy guess is that the businessman will not get permission and that the risk of deliberate destruction in future is such that the pipes will not get repaired,\u201d Shakespeare said.<\/div>\n<div class=\"article__quote-info\">\n<div class=\"elem-info\">\n<div class=\"elem-info__share\">\n<div class=\"share m-active\" data-id=\"1120985564\" data-url=\"https:\/\/sputnikglobe.com\/20241124\/us-unlikely-to-let-american-investor-buy-nord-stream-2-pipeline-us-itself-destroyed---economist-1120985564.html?share-block=1120985710\" data-title=\"\u201cMy guess is that the businessman will not get permission and that the risk of deliberate destruction in future is such that the pipes will not get repaired,\u201d Shakespeare said.\">\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">Lynch reportedly applied for a license with the US Treasury that would allow him to negotiate initiating repair work on the damaged $11 billion Nord Stream 2 pipeline with entities under US sanctions, and has reportedly lobbied officials to allow him to invest in the damaged pipeline network to secure\u00a0<strong>\u201cAmerican and European control over European energy supply for the rest of the fossil-fuel era.\u201d<\/strong><\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"vrez\">\n<div class=\"article__vrez\">\n<div class=\"article__vrez-text\">\n<p>Nord Stream 2 AG is owned by a subsidiary of Russia\u2019s Gazprom, with a consortium of five European energy companies financing to the project. A Swiss court has repeatedly extended the moratorium on Nord Stream 2 AG\u2019s bankruptcy, most recently until January 2025. It&#8217;s unclear whether Russia would ever allow foreign investors, particularly from unfriendly countries, to gain a stake in the project.<img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-215710 aligncenter\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-300x169.webp\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-300x169.webp 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-1024x576.webp 1024w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-768x432.webp 768w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-1536x864.webp 1536w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg-390x220.webp 390w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/11\/1089711168_0_0_1200_675_1920x0_80_0_0_31e3beecc4f7c477a54193c37e80aeba.jpg.webp 1920w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">Nord Stream 2 was completed in September 2021, but never commissioned amid heavy US pressure on its European NATO allies to wean themselves off reliance on cheap and dependable Russian energy in favor of more costly US liquefied natural gas exports to Europe.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">In September 2022, three of four strings of the combined Nord Stream 1 and 2 pipeline networks were damaged in a series of explosions, causing the largest-ever man-made release of methane and deprived Europe of the capacity to import up to 110 billion cubic meters of Russian gas per year.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"vrez\">\n<div class=\"article__vrez\">\n<div class=\"article__vrez-text\">\n<p>In December 2022, a source told US media that repairing the damaged energy infrastructure could cost $500 million or more to repair, and that consultants were engaged in research into how long the damaged pipes could withstand exposure to saltwater.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">In February 2023, veteran US investigative journalist Seymour Hersh alleged, citing insider information, that US Navy divers carried out the sabotage attack targeting Nord Stream. US officials dismissed these allegations, and maintain that Russia may have blown up its own pipeline.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"quote\">\n<div class=\"article__quote\">\n<div class=\"article__quote-bg\">\n<div class=\"article__quote-bg-line\"><\/div>\n<\/div>\n<div class=\"article__quote-text\">\n<p>&#8220;I don&#8217;t want to get our country in trouble, so I won&#8217;t answer&#8230;But I can tell you who it wasn&#8217;t\u00a0<strong>\u2013<\/strong>\u00a0Russia. It wasn&#8217;t Russia,&#8221; President-elect Donald Trump told US media in April 2023. &#8220;How about when they blamed Russia. You know they said &#8216;Russia blew up their own pipeline.&#8217; You got a kick out of that one too,&#8221; Trump said.<\/p>\n<\/div>\n<div class=\"article__quote-info\">\n<div class=\"elem-info\">\n<div class=\"elem-info__share\">\n<div class=\"share m-active\" data-id=\"1120985564\" data-url=\"https:\/\/sputnikglobe.com\/20241124\/us-unlikely-to-let-american-investor-buy-nord-stream-2-pipeline-us-itself-destroyed---economist-1120985564.html?share-block=1120985861\" data-title=\"&amp;quot;I don&amp;#x27;t want to get our country in trouble, so I won&amp;#x27;t answer...But I can tell you who it wasn&amp;#x27;t \u2013 Russia. It wasn&amp;#x27;t Russia,&amp;quot; President-elect Donald Trump told US media in April 2023. &amp;quot;How about when they blamed Russia. You know they said &amp;#x27;Russia blew up their own pipeline.&amp;#x27; You got a kick out of that one too,&amp;quot; Trump said.\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"text\">\n<div class=\"article__text\">After the release of Hersh&#8217;s bombshell story, US and German media have coordinated the release of a series of articles alleging that amateur Ukrainian saboteurs, not the US Navy, was responsible for the attack on Nord Stream.<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"article\" data-article=\"main-photo\">\n<div class=\"article__article m-image\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article__block\" data-type=\"article\" data-article=\"main-photo\">\n<div class=\"article__article m-image\"><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Nord Stream 1 and 2 natural gas pipeline network was rocked by explosions in September 2022, just months after President Joe Biden threatened to &#8220;bring an end&#8221; to the energy project in the event of an escalation in Ukraine. Now, a US investor reportedly wants to buy Nord Stream 2. Sputnik asked a renowned &hellip;<\/p>\n","protected":false},"author":3,"featured_media":215709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[263],"tags":[],"class_list":["post-215708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-telegraph-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Unlikely to Let American Investor Buy Nord Stream 2 Pipeline US Itself Destroyed - Economist - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=215708\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Unlikely to Let American Investor Buy Nord Stream 2 Pipeline US Itself Destroyed - Economist - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"The Nord Stream 1 and 2 natural gas pipeline network was rocked by explosions in September 2022, just months after President Joe Biden threatened to &#8220;bring an end&#8221; to the energy project in the event of an escalation in Ukraine. 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