In this list
Natural Gas

US Senate panel approves bill targeting Nord Stream 2, TurkStream gas lines

Oil | Natural Gas | LNG | Carbon | Emissions | Energy Transition | Electric Power | Coal | Energy | Electricity | Biofuels | Commodities


Energy | LNG | Natural Gas | NGL

Platts LP Gaswire

Energy | Electric Power | Renewables | LNG | Natural Gas | Oil | Shipping

Energy Transition

Energy | Energy Transition | Petrochemicals | Oil | Coal | Metals | Natural Gas | Hydrogen | Polymers | Emissions | Carbon | Refined Products | Steel | Renewables

Indian planning body proposes CCUS framework eyeing 750 mil mt/year CO2 capture by 2050

Commodities | Agriculture | Grains | Energy | LNG | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Shipping | Dry Freight

Commodity Tracker: 4 charts to watch this week

For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today.

Subscribe Now

US Senate panel approves bill targeting Nord Stream 2, TurkStream gas lines

  • Author
  • Meghan Gordon
  • Editor
  • Gary Gentile
  • Commodity
  • Natural Gas

Washington — The US Senate Foreign Relations Committee Wednesday approved a sanctions bill targeting Russia's Nord Stream 2 and TurkStream natural gas pipelines, although the latest version appears to protect major European investors.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The bill would sanction vessels that lay Russian energy export pipelines at least 100 feet below sea level.

ClearView Energy Partners said in a note to clients Wednesday that changes to the legislation since last week appear to remove the sanctions threat against Nord Stream 2 investors Shell, Germany's Wintershall and Uniper, France's Engie and Austria's OMV.

The previous version would have applied to individuals and entities that "intentionally facilitated providing those vessels for the construction of such a project," while the new language goes after individuals and entities that have "intentionally facilitated deceptive or structured transactions to provide those vessels for the construction of such a project."

"To the extent that the five companies' facilitation of relevant transactions is neither deceptive nor structured, we would interpret the change as excluding them from the sanctions," ClearView said.

The bill's 20-2 approval comes after Senator Rand Paul, Republican-Kentucky, tried to persuade the committee to drop the legislation.

"These sanctions would not be felt by the Russians, but by companies from Austria, Germany, the Netherlands, France, Finland, Sweden, and Italy, as well as their investors," Paul said in a letter to fellow committee members obtained by the Daily Beast.

Chairman Jim Risch, Republican-Idaho, said after Wednesday's vote that the bill "is a specific, targeted, and timely way to counter Russian malign influence."

Gas flows will start December 30 on the 55 Bcm/year Nord Stream 2 pipeline from Russia to Germany through the Baltic Sea, OMV CEO Rainer Seele said earlier Wednesday. The Western European companies will finance 50% of the project while Russia's Gazprom will finance the rest.

-- Meghan Gordon,

-- Edited by Gary Gentile,