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Biden Administration Likely To Maintain Trump's Policy On Nord Stream 2 - Ex-US Official
Mohammad Ali (@ChaudhryMAli88) Published November 08, 2020 | 01:40 AM
WASHINGTON (UrduPoint News / Sputnik - 08th November, 2020) The administration of Joe Biden, who has secured a victory in the US presidential election, will likely to continue the policy of opposing the construction of the Nord Stream 2 gas pipeline project, Berkeley Research Group LLC Managing Director Branko Terzic, who used to serve as a commissioner of the US Federal Energy Regulatory Commission, told Sputnik on Saturday.
"Most likely Biden's administration will continue the past opposition policy," Terzic said when asked whether the Biden administration will continue fighting the Nord Stream 2.
"However, to gain good will the German government the opposition could be rhetorical only," he added.
Terzic believes that the new US administration will continue selling liquefied natural gas in the international market, however, he expects that there will be pressure by the left wing of the Democratic Party to curtail sales.
The former US official is also certain that trade and International climate change issues will be important under the Biden administration.
"A president has limited authority to modify the interpretation of existing environmental legislation enforced by the Environmental Protection Agency (EPA) through what is known as 'rule making,'" he noted. "The Trump administration modified the stricter rules established by the Obama administration. A Biden administration can reimpose the previous tighter Obama rules."
Terzic also noted that under the Biden administration, the Organization of the Petroleum Exporting Countries would continue to be viewed negatively.
"Relations with Saudi Arabia will be strained by a Biden administration which will be pressured by the Democrat's left wing to distance the US from Saudi's Arabia's human rights record.
OPEC will continue to be viewed negatively," he said.
Commenting on possible effect of Biden's plan to return to the Paris Agreement on the energy industry, Terzic said that in the short run it would not have much impact.
"If the Biden administration controls both the House and Senate one can expect major climate change regulation. It is not clear if the Democrats will choose a carbon tax or a command and control regime on greenhouse gas emissions," he added. "President Biden will also appoint two more Democrats to the five member Federal Energy Regulatory Commission (FERC). The current commission has two Republicans, one Democrat and two vacancies. Biden will also be able to appoint a new Chairman. The FERC regulates oil and gas pipelines and LNG facilities as well as wholesale electric power markets."
In October, the US State Department broadened the scope of its sanctions on the Nord Stream 2, enabling Washington target companies that provide services or funding for vessels working on the pipeline project.
The Kremlin has criticized the United States for imposing yet another set of sanctions on the project, saying that it exemplifies Washington's desire for unfair competition.
Despite the US sanctions, German Chancellor Angela Merkel said this past January that the Nord Stream 2 pipeline, which will deliver Russian gas to Europe, should be completed.
Earlier US sanctions on the project resulted in Switzerland's Allseas, which was participating in laying the pipeline in the Baltic Sea, suspending its work in late December.
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