Germany allegedly offered the Washington administration a €1 billion (US$1.18 billion) investment in two liquefied natural gas (LNG) terminals to be built in Germany in exchange for renouncing sanctions on the Nord Stream 2 natural gas project that will transport Russian gas to Europe, German newspaper Die Zeit reported Wednesday
Die Zeit said that Berlin is ready to invest in the construction of two terminals in Germany to increase LNG imports from the US.
According to the news, German Deputy Prime Minister and Minister of Finance Olaf Scholz sent the proposal in a letter to the US Treasury Minister Steven Mnuchin on Aug. 7.
Some politicians in Germany demanded the halt of the Nord Stream 2 gas pipeline project and sanctions against Russia in connection with the poisoning of Russian opposition activist Alexei Navalny.
The natural gas project in question is expected to come on the agenda at the EU Council meeting to be held on Sept. 24-25.
- US wants to export more LNG to Europe
To increase LNG exports, gain a bargain share in trade disputes in international markets, and prevent the rapprochement of Europe and Russia, the US started to impose sanctions on companies involved in the Nord Stream 2 natural gas project by politically intervening in Europe's energy policies.
In addition to the US, which wants to export LNG to European countries, some European countries, especially Ukraine, oppose the project.
In 2017, the Trump administration, which became the first net natural gas exporter after 60 years, wants to export more LNG to Europe to reduce its country's foreign trade deficit.
According to global consulting firm CF International, the value generated from US LNG export terminals will reach $716 billion by 2050.
Spokesman of the German Ministry of Finance, Christoph Kuhn, refused to comment on news of the proposal during a daily media conference.
Reporting By Bahattin Gonultas in Berlin
Writing By Murat Temizer