Nord Stream 2 Project is Not Large Threat to US Gas - Trump's Ex-Adviser

WASHINGTON (Sputnik) - George David Banks, who was an energy policy adviser to US presidents Donald Trump and George W. Bush, told RIA Novosti he did not see the Nord Stream 2 gas pipeline project as a significant threat because US gas has some competitive advantages on EU market.

"I am not as concerned about Russian dominance of the European energy market, because the US now is a major gas exporter and will continue to grow even more. That market power reduces the Russian ability to use this sort of leverage vis-a-vis the EU… So, I don’t see Nord Stream as much of a threat as some do", Banks said.

READ MORE: Washington is Preparing Sanctions Against Nord Stream 2 — Report

The former Trump adviser explained that US gas, which is less greenhouse gas intensive than the Russian gas, would be cheaper for Europe "if they factor in climate." Gazprom, which owns Nord Stream 2, and other companies would have to invest heavily to "clean up methane leakage", Banks argued.

US Energy Secretary Rick Perry said Monday that US sanctions against Nord Stream 2 were "still on the table." However, US Senate Energy and Natural Resources Committee Chairwoman Lisa Murkowski told Sputnik the Senate was not considering sanctions against the pipeline.

Nord Stream 2 is expected to bring gas from Russia to Germany via the Baltic Sea. The new pipelines are set to be laid down next to the existing Nord Stream.