Nord Stream 2 pipeline project: What is it and why is it important?

On Friday, the US warned that Russia’s Nord Stream 2, a gas pipeline project will suffer if it invades Ukraine. Here’s everything you need to know about the controversial project.

What is the Nord Stream 2 gas pipeline project all about?

Nord Stream 2 project proposes transporting gas from Russia to the European Union. Europe is currently in need of gas for sustaining its energy needs and Gazprom, Russia’s state-owned firm will be fulfilling it. According to the firm, it is facing a ‘landfall’ in Lubmin, a German city during its bid. The pipeline will be built up in several phases. It seeks to supply gas for millions of households and will be passing through Exclusive Economic Zones (EEZs) of several nations. Stretching across 1,230 km, it starts from the Russian coast to Greifswald, Germany.

What is the controversy about the gas pipeline?

The Nord Stream 2 gas pipeline project is riddled with controversy. It all began with Olaf Scholz, a German Chancellor stating that his government will halt the project if Russia attacks Ukraine. The project is worth over $12 billion and is at the forefront of tension for years. Several Eastern European nations including Poland and Ukraine are opposing it since it may give Russia an upper hand over the EU’s growing energy needs.

Additionally, the US is also opposing the Nord Stream 2 project. The US believes that the project will not be moving ahead if Russia is invading its West-supporting neighbor. After all, Volodymyr Zelensky, the Ukrainian president is also bitter and against the deal. Similar to Nord Stream 1, this project also bypasses Ukraine. While they cannot claim a transit fee, the project threatens Ukraine due to the border issues with Russia.

This article Nord Stream 2 pipeline project: What is it and why is it important? appeared first on BreezyScroll.

Read more on BreezyScroll.