MINA: Gaspipe Diplomacy: How Ukraine opened the door for US - Russian Energy fight

If there’s a crack in the unified front between the U.S. and Europe over Russia’s role in Ukraine, it’s the 1,480-mile-long South Stream natural gas pipeline.

South Stream is a $21.6 billion project to connect Russia’s gas reserves—the world’s largest—to Europe’s markets. Europe relies on Russia for about 30 percent of its natural gas.

Any delays in finishing the pipeline—scheduled for completion in 2018—can only help Russia’s competitors in the international energy business. And one player gearing up to challenge Russia in the European energy market is the United States.

This year, the United States became the largest producer of natural gas and oil in the world, surpassing Russia and Saudi Arabia. There’s solid evidence that the U.S. is seeking both commercial advantage and political influence by gaining a foothold in Europe’s oil and gas markets.
MORE