S&P: US sanctions may cause gas problem in Europe

Baku. 8 August. REPORT.AZ/ European consumers may face price growth and delivery problems due to the difficulties in the construction of the gas pipelines.

Report informs citing the Interfax, S&P International Rating Agency has voiced this opinion.

Analysts of the agency consider that the new sanctions imposed by the US against Russia may cause uncertainties on Europe’s gas market. The report made by S&P reads that sanctions may hinder the construction of gas pipelines and even lead to the liquidation of these projects. It is also noted that sanctions can also create problems in the delivery of fuel from Russia. 

According to the agency, 30% growth of gas prices will make the delivery of gas from the US to Europe cost-effective.

Notably, US President Donald Trump signed on August 2 the bill on a new package of sanctions against Russia. In accordance with the documents, official Washington opposes to the construction of the “Nord Stream-2” gas pipeline.