Leading politicians in Washington, London and Paris did not skimp with bad words when the second direct pipeline connection between Russia and Germany was discussed over the past few years.

While still foreign minister, the British politician Boris Johnson said in 2018 that Nord Stream 2 was a “divisive project” for Germany, which would also leave Europe's gas market in the hands of a malicious Russian state.

The foreign minister of the American government under Donald Trump, Rex Tillerson, justified his resistance with "common strategic interests", his ambassador in Berlin spoke of "a considerable risk of sanctions".

French President Emmanuel Macron called for the end of Nord Stream 2 in February.

Tobias Piller

Economic correspondent for Italy and Greece based in Rome.

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What all these politicians have in common is that oil and gas companies from their own countries are deeply involved in Russian gas deals. The case of Great Britain, whose own gas sources in the North Sea have dried up, is outstanding. Now you get Russian gas yourself. And the British oil and gas company BP has a 19.75 percent stake in the Russian gas company Rosneft, which regards itself as the largest listed gas supplier in the world. In the balance sheet of the British oil company, it is made clear again and again that they do not want to mix the figures from Russia with those of their own activities and therefore treat them as a separate division. The largest shareholder in Rosneft is the Russian state with officially 40.4 percent, which is why this group can always count on preferential treatment in Moscow.BP can earn money directly from it - although a book loss had to be registered for 2020 of all places.

Competition for the French

The French oil company Total, with a 30.6 percent state participation, is not that privileged, but at least it is a partner in various investment projects on the north coast of Russia, on the Arctic Sea.

There they are involved in projects to explore gas fields and the construction of gas liquefaction stations with which natural gas will then be transported to the markets by ship, because the construction of a pipeline to this remote region is apparently not profitable.

The gas pipeline to Germany via the Baltic Sea is simply a bit of additional competition for the French business model.

The American oil company Exxon Mobil is also deeply involved in business with Russia. He holds drilling and exploration rights off the Russian island of Sakhalin, which lies on the Pacific, north of Japan and not far from Alaska. Exxon writes in its 2020 balance sheet that the company has the operational management of a consortium to search for oil and gas, and that this consortium is also a partner of the Russian government in an agreement on the income from future production. While the Americans in Europe have threatened with the club of sanctions against all those who do new business with Russia on the gas market, the American Exxon is apparently not bothered by this: “Exxon Mobil adheres to all relevant rules that govern our investments Subsidiary in the Russian Federation apply ",it says in a statement from the press department of the group to the FAZ

The big loser is Italy

Perhaps the only losers in the race to do business with Russian gas were the Italians.

Their specialist company Saipem was allowed to lay the Nord Stream 1 pipeline, but was relegated to a subordinate role in the dispute with Russia over the sanctions for the annexation of the Crimean peninsula in the second pipeline project.

The Italian oil and gas company Eni (gasoline brand Agip) has now completed all of its projects in Russia and is only active as a buyer of Russian gas. The withdrawal from Russia had already been decided before the annexation of Crimea by Russia and the subsequent sanctions, it said. At the same time, there is bitterness among politicians like the former Prime Minister Matteo Renzi. He wanted to build a pipeline called South Stream from Russia to Italy, making Italy the hub for all Russian gas deliveries. This project fell victim to the sanctions against Russia. Soon afterwards, Renzi criticized that Italy's project had stopped, but that Germany was allowed to continue building.