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Germany offers US € 1bn LNG investment

by newsupe

It has been suggested that Germany has offered to invest 1 billion euros in the Washington administration in exchange for abandoning sanctions on the North Stream 2 Natural Gas Pipeline project.

Germany has reportedly offered the Washington administration a 1 billion euro investment for 2 liquefied natural gas (LNG) terminals to be built in Germany in exchange for abandoning sanctions for the North Stream 2 Natural Gas Pipeline project, which will carry Russian gas to Europe.

Berlin is ready to invest in the construction of two terminals in Germany to boost LNG imports from the United States, German daily Die Zeit reported.

According to reports, German Deputy Prime Minister and Finance Minister Olaf Scholz sent a letter to US Treasury Secretary Steven Mnuchin on August 7th asking for the completion and operation of the North Stream 2 project, which will carry Russian gas from the US to Europe with an annual capacity of 55 billion cubic meters, in exchange for these investments.

Some politicians in Germany had demanded a halt to the North Stream 2 Natural Gas Pipeline Project, demanding sanctions be imposed on Russia in connection with the poisoning of Russian dissident Aleksey Navalny.

The project is expected to be raised at the EU Council meeting on 24-25 September.

U.S. WANTS TO EXPORT MORE LNG TO EUROPE

In order to increase LNG exports, gain a bargaining stake in trade disputes in international markets, and prevent European and Russian rapprochement, the United States began to impose sanctions on companies in the North Stream 2 project by politically interfering in European energy policies.

Some European countries, especially Ukraine, as well as the United States, which wants to export LNG to European countries, are also opposed to the project.

In 2017, the United States, which is a net natural gas exporter for the first time in 60 years, wants to export more LNG to Europe to reduce its country’s foreign trade deficit.

The value from U.S. LNG export terminals will reach $ 716 billion by 2050, according to global consulting firm CF International.

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