Building the second leg of the Russian gas pipeline running through the Baltic Sea would threaten European energy security, the U.S. government said.
A bipartisan group of 39 senators sent a letter last week to the U.S. Treasury Department expressing opposition to Russian plans to twin the Nord Stream pipeline to Germany. If built, it would leave U.S. allies in Europe more exposed to the Kremlin’s “malign influence,” the letter read.
Global energy demand is expected to increase by about 16 percent by 2030 and, even as the world’s economy shifts toward renewable energy resources, oil and gas will still account for more than half of the demand. For natural gas, the global appetite swells 23 percent by 2030, beating the expected demand for crude oil.