The Fort Worth Press - Nord Stream 2 pipeline: key card in West's hand against Russia

USD -
AED 3.672985
AFN 69.901592
ALL 94.336007
AMD 393.250352
ANG 1.79454
AOA 917.999753
ARS 1022.259777
AUD 1.596934
AWG 1.8
AZN 1.698605
BAM 1.874072
BBD 2.010521
BDT 118.990811
BGN 1.873502
BHD 0.37718
BIF 2943.915831
BMD 1
BND 1.352325
BOB 6.880923
BRL 6.078802
BSD 0.995774
BTN 84.654229
BWP 13.762804
BYN 3.258689
BYR 19600
BZD 2.00161
CAD 1.43625
CDF 2870.000111
CHF 0.893705
CLF 0.035848
CLP 989.149934
CNY 7.298701
CNH 7.30706
COP 4390
CRC 502.39074
CUC 1
CUP 26.5
CVE 105.658298
CZK 24.054599
DJF 177.317197
DKK 7.144799
DOP 60.635678
DZD 134.877055
EGP 50.910301
ERN 15
ETB 124.126733
EUR 0.95802
FJD 2.315402
FKP 0.791982
GBP 0.79535
GEL 2.80989
GGP 0.791982
GHS 14.637652
GIP 0.791982
GMD 72.000047
GNF 8602.830559
GTQ 7.672406
GYD 208.324949
HKD 7.770065
HNL 25.276684
HRK 7.172906
HTG 130.26897
HUF 396.659991
IDR 16184.4
ILS 3.640501
IMP 0.791982
INR 85.06795
IQD 1304.414484
IRR 42087.497632
ISK 139.010161
JEP 0.791982
JMD 155.795747
JOD 0.709096
JPY 156.603501
KES 129.000388
KGS 87.000051
KHR 4001.494811
KMF 466.124997
KPW 899.999441
KRW 1451.48497
KWD 0.30799
KYD 0.829812
KZT 522.944395
LAK 21794.540106
LBP 89168.367494
LKR 292.350591
LRD 180.728433
LSL 18.332231
LTL 2.95274
LVL 0.60489
LYD 4.892632
MAD 10.021656
MDL 18.341143
MGA 4698.115196
MKD 58.942719
MMK 3247.960992
MNT 3397.99987
MOP 7.97156
MRU 39.601
MUR 46.859851
MVR 15.400805
MWK 1726.205872
MXN 20.0746
MYR 4.491977
MZN 63.903729
NAD 18.332231
NGN 1546.450013
NIO 36.642041
NOK 11.314885
NPR 135.44715
NZD 1.767831
OMR 0.38501
PAB 0.995774
PEN 3.707899
PGK 4.037907
PHP 58.629008
PKR 277.163787
PLN 4.081092
PYG 7764.394745
QAR 3.629996
RON 4.765904
RSD 112.068288
RUB 102.899255
RWF 1388.066423
SAR 3.75635
SBD 8.383555
SCR 13.944953
SDG 601.500765
SEK 11.01661
SGD 1.35516
SHP 0.791982
SLE 22.813261
SLL 20969.503029
SOS 569.08232
SRD 35.130996
STD 20697.981008
SVC 8.713025
SYP 2512.530243
SZL 18.327728
THB 34.241963
TJS 10.893341
TMT 3.51
TND 3.172929
TOP 2.342096
TRY 35.202695
TTD 6.758272
TWD 32.68497
TZS 2414.999914
UAH 41.761098
UGX 3652.705513
UYU 44.413143
UZS 12838.129186
VES 51.475275
VND 25436
VUV 118.722003
WST 2.762788
XAF 628.546104
XAG 0.033765
XAU 0.000381
XCD 2.70255
XDR 0.759575
XOF 628.546104
XPF 114.276406
YER 250.375018
ZAR 18.30089
ZMK 9001.185115
ZMW 27.557229
ZWL 321.999592
  • SCS

    -0.5800

    11.74

    -4.94%

  • CMSC

    0.0200

    23.86

    +0.08%

  • GSK

    0.1700

    33.6

    +0.51%

  • CMSD

    0.0000

    23.56

    0%

  • RBGPF

    59.9600

    59.96

    +100%

  • RYCEF

    -0.0100

    7.27

    -0.14%

  • NGG

    0.8200

    58.5

    +1.4%

  • BCE

    0.0500

    23.16

    +0.22%

  • BCC

    -0.2600

    122.75

    -0.21%

  • RIO

    -0.0900

    58.64

    -0.15%

  • JRI

    0.1100

    12.06

    +0.91%

  • AZN

    0.9100

    65.35

    +1.39%

  • BP

    0.1900

    28.6

    +0.66%

  • RELX

    -0.3100

    45.47

    -0.68%

  • VOD

    0.0100

    8.39

    +0.12%

  • BTI

    0.1131

    36.24

    +0.31%

Nord Stream 2 pipeline: key card in West's hand against Russia
Nord Stream 2 pipeline: key card in West's hand against Russia

Nord Stream 2 pipeline: key card in West's hand against Russia

The Nord Stream 2 pipeline, set to double natural gas supplies from Russia to Germany, has become a key bargaining chip for the West in its bid to stop Moscow from invading Ukraine.

Text size:

The pipeline, which Germany has defiantly pursued despite criticism from the United States and Eastern Europe, was completed last year but still requires regulatory approval.

Germany has now given a clear warning that it will not allow Nord Stream 2 to begin operating if Russia invades Ukraine, despite a severe energy crisis that has sent gas prices soaring in Europe.

Here is a look at the history of the pipeline, which critics say will increase Europe's dependence on Russian gas and Ukraine has described as a "geopolitical weapon".

- What is it? -

Running from Russia's Baltic coast to northeastern Germany, the 1,200-kilometre (745-mile) underwater Nord Stream 2 follows the same route as Nord Stream 1, which was completed over a decade ago.

Like its twin, Nord Stream 2 will be able to pipe 55 billion cubic metres of gas per year from Russia to Europe, increasing the continent's access to relatively cheap natural gas at a time of falling domestic production.

Russian giant Gazprom has a majority stake in the 10-billion-euro ($12 billion) project. Germany's Uniper and Wintershall, France's Engie, the Anglo-Dutch firm Shell and Austria's OMV are also involved.

The pipeline was completed in September 2021 but German authorities in November suspended the approval process, saying it needed to first become compliant with German law.

The operating company behind the project, Swiss-based Nord Stream 2 AG, said this week it had founded a German subsidiary as it presses ahead despite the rising diplomatic tensions.

- Why is it controversial? -

Nord Stream 2 bypasses Ukraine's pipeline infrastructure, depriving the country of around a billion euros annually in gas transit fees and, Kyiv fears, removing a key check on potential Russian aggression.

Ukraine, in conflict with Russia since Moscow's 2014 annexation of Crimea, also believes Nord Stream 2 will be used by Russia to exert political pressure.

In past disputes with Russia, Ukraine has had its gas supply cut off several times.

The US shares those concerns. As do several European nations, particularly Poland and eastern European countries wary of becoming too reliant on Moscow for energy security.

Analysts meanwhile disagree about Nord Stream's economic and environmental benefits.

A 2018 report by German think-tank DIW said the project was unnecessary and based on forecasts that "significantly overestimate natural gas demand in Germany and Europe".

- Why was Germany so keen? -

Europe's top economy imports around 40 percent of its gas from Russia and believes the pipeline has a role to play in the transition away from coal and nuclear energy.

Former chancellor Gerhard Schroeder serves as chairman of the Nord Stream's shareholders committee.

The previous German government under Angela Merkel deflected calls to abandon the project even as tensions rose with Russia over spying allegations and the poisoning and jailing of Kremlin critic Alexei Navalny.

Now, with energy prices soaring across Europe -- and Russia allegedly restricting existing gas supplies to put pressure on the West -- stopping Nord Stream 2 looks like a bigger risk than ever.

- What do other countries think? -

US President Joe Biden objects to Nord Stream 2, calling it a bad deal for Europe and a security risk.

US sanctions on Russian vessels laying the pipeline had long succeeded in delaying Nord Stream 2, angering Germany.

But Biden, eager to rebuild transatlantic ties after Donald Trump, last year unexpectedly waived sanctions on the Russian-controlled company behind the project.

Ukrainian President Volodymyr Zelensky, meanwhile, has long insisted that Nord Stream 2 poses a serious global security threat.

"We view this project exclusively through the prism of security and consider it a dangerous geopolitical weapon of the Kremlin," he said last year.

- What's the latest? -

With tensions with Moscow soaring over Russia's deployment of troops on the Ukraine border, the new German government under Chancellor Olaf Scholz, from the centre-left Social Democrats, has finally brought a change in Germany's stance on Nord Stream 2.

Scholz warned on his first day in office that there would be "consequences" for the pipeline if Russia makes a move on Ukraine.

This week, German Foreign Minister Annalena Baerbock told parliament that her government was "working on a strong package of sanctions" alongside allies that would include Nord Stream 2.

In Washington, a top official also voiced confidence that an invasion would stop Germany from activating the multibillion-dollar project.

"If Russia invades Ukraine, one way or another, Nord Stream 2 will not move forward," said Victoria Nuland, the undersecretary of state for political affairs.

L.Coleman--TFWP