President Joe Biden's administration is weighing additional sanctions to block construction of the nearly completed Nord Stream 2 pipeline from Russia to Germany, potentially including the project's parent company Nord Stream 2 AG, Bloomberg News reported on March 18 citing three people familiar with the matter.
The sanctions would come in the form of an interim report that may also single out an insurance company that has been working with the vessels laying the pipeline in the Baltic Sea as well as other companies providing support vessels and materials to the project, according to the report.
Nord Stream 2 will bypass Western ally Ukraine, potentially depriving it of valuable transit fees. It will also increase European energy dependency on Russia and compete with shipments of U.S. LNG.
The U.S. State Department is tracking efforts to complete the Nord Stream 2 pipeline and evaluating information regarding entities that appear to be involved, U.S. Secretary of State Antony Blinken said on March 18.
"Any entity involved in the Nord Stream 2 pipeline risks U.S. sanctions and should immediately abandon work on the pipeline," Blinken said in a statement.
He added that the Biden administration is committed to complying with 2019 and 2020 legislation with regards to the pipeline and sanctions.
In this case study, Gyrodata explains how a “first-of-its-kind” solid-state gyro-while-drilling system drove efficiency and wellbore placement improvements for an offshore oil and gas operator in the North Sea.
The Khaleej al-Bahrain field is estimated to contain at least 80 billion barrels of tight (shale) oil.
Service providers and operators innovate to ensure record production continues.