In April 2018, the EU Commission refused to back the project, saying it did not contribute to the EU goals of diversifying the gas supplies. "The gas project, of course, will be completed. Berlin is under increasing pressure to pull the plug on Nord Stream 2, the planned gas pipeline that would link Russia and Germany below the Baltic Sea. They are nearly 20 meters long and weigh about 60 tonnes each. "Got a confidential news tip? When the Danish Energy Agency (DEA) this week authorized the use of Russian ships able to lay the final part of the Nord Stream 2 gas pipeline, advocates of the delayed project rejoiced. (Image from Nord Stream 2).The route of a proposed new gas pipeline from Russia to Europe.I would be surprised if the U.S. does not roll out sanctions on things related to Nord Stream.Senior emerging markets strategist at Bluebay Asset ManagementNord Stream 2 pipes are loaded onto a vessel in the northern German port of Mukran for transshipment to a storage yard.
Nord Stream 2 is a pipeline currently under construction from Russia to Germany via the Baltic Sea. Nord Stream is owned and operated by Nord Stream AG, whose majority shareholder is the Russian state company Gazprom, and Nord Stream 2 is o… The construction of a disputed natural gas pipeline in Europe will be completed within months, analysts told CNBC Thursday, despite fierce opposition from the The decision comes as a blow to U.S. efforts to prevent the completion of the Russian-led project, after repeated warnings it will increase European dependence on Russian energy. "The only reason to build this pipeline is to screw Ukraine," Timothy Ash, senior emerging markets strategist at Bluebay Asset Management, told CNBC via telephone. "I would be surprised if the U.S. does not roll out sanctions on things related to Nord Stream as they are eager to get a foothold in the European gas market via LNG (liquefied natural gas) exports," Ash added in a research note.Russia has long been the dominant source and supplier of natural gas to Europe's mass market but the U.S. is looking to challenge Russia by stepping up its imports of U.S. LNG making it easier and safer to store and transport. The EU’s domestic gas production is in rapid decline. "Some U.S. lawmakers are against the Russian-led project because of legitimate concerns about Ukraine, Ash said, but for the U.S. president, it is "purely economic. Its companies have already started selling gas obtained by fracking to European countries, backed by US authorities who say Europe should seek alternatives to Russia. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Two pipeline inspection gauge (PIG) traps were installed at Nord Stream 2's PIG receiving station in Lubmin at the end of July / early August. Here is what you need to know about the massive project.The project also runs contrary to Brussels' efforts to wean Europe off Russian gas. Nord Stream 2 is a pipeline currently under construction from Russia to Germany via the Baltic Sea.The new pipeline will run alongside the already constructed Nord Stream and will double the amount of gas being funneled through the Baltics to 110 billion cubic meters per year. You can find more information in our data protection declaration.Berlin is under increasing pressure to pull the plug on Nord Stream 2, the planned gas pipeline that would link Russia and Germany below the Baltic Sea.
Estimated to become operational in early 2020, the pipeline is projected to cost 9.5 billion euros ($10.5 billion).But, many are skeptical about the purely economic reasoning attributed to the project.Earlier this year, U.S. authorities threatened sanctions against companies that take part in the pipeline, although there has been no sign the White House will follow through.The U.S. strongly believes Nord Stream 2 threatens the energy and national security of its European allies because it increases Russia's control over the region's energy supply. Nord Stream (former names: North Transgas and North European Gas Pipeline; Russian: Северный поток, Severny potok) is a system of offshore natural gas pipelines from Russia to Germany. Special heavy transport equipment brought the traps to northern Germany. However, the US gas is more expensive than that supplied through Russian pipelines.In turn, Putin pledged only that the gas transits through Ukraine would not be suspended "as long as they are economically justified." This was the piece of the pipeline that had not been laid under the Baltic Sea. Gazprom fails to exempt Nord Stream-2 from EU market rules.
"With 28 countries and a combined population of around 512 million people, the EU is something of a prized market — and political battleground — for the world's largest energy exporters, particularly when it comes to natural gas.However, less than 24 hours after Denmark's decision, Ukrainian President Volodymyr Zelenskiy said the move would weaken Europe and strengthen Russia. It includes two lines running from Vyborg to Greifswald forming original Nord Stream (Nord Stream 1), and two lines running from Ust-Luga to Greifswald termed Nord Stream 2. MOSCOW (Sputnik) - Russia's Security Council Deputy Chairman Dmitry Medvedev said on Thursday that the Nord Stream 2 gas pipeline project would be completed, despite "wailing of US friends." The Nord Stream 2 Pipeline will transport natural gas into the European Union to enhance security of supply, support climate goals and strengthen the internal energy market. We use cookies to improve our service for you.
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