20 Feb 2024 17:07

U.S. refusal to license LNG may theoretically encourage Germany to use Nord Stream 2 - Russian Energy Ministry

MOSCOW. Feb 20 (Interfax) - The U.S. decision to suspend the licensing of LNG exports may theoretically encourage Germany to launch the undamaged line of the Nord Stream 2 gas pipeline, Russian Energy Minister Nikolai Shulginov said.

As Russian President Vladimir Putin suggested, the launch of the gas pipeline would require consent of the receiving side and technical efforts, he said.

"The statement was made a rather short time ago, so, they may be still considering it. I think everything will depend on what happens. Any statements, even the U.S. ones on LNG licensing, may help them realize that U.S. LNG exports are unstable and not guaranteed and that they should resume the process [of Nord Stream 2 certification]," Shulginov said at a press conference on Tuesday.

The administration of U.S. President Joe Biden has suspended processing new LNG export licensing, and the Department of Energy said it would review the estimates of how the new projects meet public interests. Analysts believe that the approval of new LNG export licenses will resume no earlier than after the U.S. presidential election in November 2024.