FX.co ★ Denmark prepares bill against Nord Stream 2

The Russian media regularly reports that the construction of the legendary Nord Stream 2 gas pipeline project continues. However, even Germany, the main ally in this project, has not yet granted permission to the pipeline construction. Moreover, now it is necessary to take into account the recent statement of the European Commission that the project is useless for Europe in the future and the new Danish law that can hinder construction of the Russian pipeline.

The Danish Parliament prepared a bill according to which the government should consider foreign policy when making decisions on the construction of foreign energy infrastructure on the territory of the country. It's no secret that Moscow uses economic factors to promote its political interests. Therefore, the Nord Stream 2 falls under this law. Paul Corcoran, Chief Financial Officer at Nord Stream 2, stated that if the Danish government apply this law and, therefore, be able to refuse to authorize construction in its territorial waters, the company will have to change the route, which will "cause a probable delay", as well as "increase the cost" of the project. Corcoran also called this decision weird referring to the fact that the Nord Stream pipeline 1 goes via the territorial waters of Denmark.

Apparently, he did not take into account the fact that at the time of the Nord Stream 1 construction there were neither such laws no sanctions against Russia. In addition, permits from Finland and Sweden are also needed to implement the project. However, both countries are not eager to participate in this controversial project.