The delivery of Russian natural gas to Europe via the Nord Stream 2 pipeline is likely to be delayed for another six months, Germany’s ambassador to Ukraine said on Monday.
The mega-project, completed in September after numerous roadblocks, is still far from supplying European customers, due to approval hurdles in the EU.
What is Nord Stream 2?
The 1,230-kilometer-long route is a new export gas pipeline running from Russia across the Baltic Sea to Germany. It runs parallel to the existing Nord Stream pipeline which became operational in 2012. Pipelaying operations for Nord Stream 2 commenced in September 2018. The total capacity of the pipeline’s two strings is 55 billion cubic meters of gas per year, which will ensure a highly reliable and cheap supply of Russian gas to Europe.
Who owns the pipeline?
Besides Russian energy major Gazprom, which has a majority stake in the project, the international consortium involved in the pipeline includes European firms such as Germany’s Wintershall and Uniper groups, the Dutch-British giant Shell, France’s Engie and Austria’s OMV. Gazprom is a 51% shareholder in the Swiss-based company Nord Stream AG, which manages the pipeline’s construction.
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Who is against Nord Stream 2?
The construction of Nord Stream 2 has been strongly criticized by the US and some Eastern European countries, particularly Poland and Ukraine, who claim the project will increase Europe’s reliance on Russia for its energy needs. Opponents also voiced concerns that the new pipeline bypasses Ukraine, thus enabling Russia to cut down on gas transit through the country via its Soviet-era pipeline network.
READ MORE: Germany’s future Vice-Chancellor slams Nord Stream 2 as ‘project to pressure Ukraine’
The US administration has been one of the most vocal critics, attempting to derail the project and at the same time, boost sales of American liquefied natural gas (LNG) to the continent. The project has been criticized by US think tanks and has been dubbed by the Atlantic Council as “Vladimir Putin’s pipeline weapon.”
Who is in favor of the project?
Besides Russia, Europe’s biggest economy – Germany – remains firm as Nord Stream 2’s strongest backer, insisting that the pipeline will ensure the continent’s energy security. Berlin has rejected all concerns, saying that Nord Stream 2 is a commercial project. Outgoing Chancellor Angela Merkel has repeatedly reminded her European neighbors that Germany and Europe bought gas from Russia even at the height of the Cold War. Most Central and Western European countries are in favor of the project as well.
What steps did US take to stop Nord Stream 2?
In a bid to halt the construction of Nord Stream 2, Washington has levied a number of sanctions against its construction, and threatened foreign firms working on the project. As a result, a number of insurers and high-tech Western vessels laying pipes pulled out of the project, delaying the completion of the pipeline.