The €9.5bn Nord Stream 2 pipeline, which will double the natural-gas carrying capacity from Russia to Germany, is as controversial as energy projects come
PIPELINES ARE meant to be safe, reliable and deadly boring. Yet the €9.5bn Nord Stream 2 pipeline, which will double the natural-gas carrying capacity from Russia to Germany when it is completed this year, is as controversial as energy projects come. For years it has caused rifts between Europe and America, and within Europe., a point Angela Merkel, the chancellor, is sure to make in her meeting with President Joe Biden in Washington, DC, this week. Poland says it is anti-competitive.
America has long opposed it. The Obama administration, in its efforts to isolate Mr Putin, complained rightly that NS2—like the original Nord Stream that opened in 2011—would make Europe even more dependent on Russian gas , and would isolate Ukraine. Russia, in turn, argued that America’s concern for Ukraine was a red herring; in its eyes, America wanted to stop the deal so it could ship more of its own liquefied natural gas to Europe.
So will NS2 be completed? In the absence of last-minute surprises, yes. The German government has confirmed that all construction permits have been issued, and the firm behind the pipeline now expects it to be launched as early as this year. The consortium financing the project, which comprises Gazprom and its five backers is holding fast.
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