Nord Stream 2 pipeline is a 1230 kilometres long gas pipeline that is establishing under the Baltic Sea. The purpose of the Nord Stream Pipeline is to deliver natural gas from Russia to Germany. It’s a twin of Nord Stream 1 pipeline following the same route as Nord Stream 1 pipeline. The Nord Stream 1 project was completed in 2011. N.S.1 pipeline has set to transport approximately 55 billion cubic meters of natural gas from Russia to Germany.
But N.S.2 pipeline has established to transport 110 billion cubic meters of gas that it doubled the capacity of the N.S.1.They started building N.S.2 Pipeline in 2015 and it was likely to be completed in 2019. Due to some issues, the construction of the Nord Stream 2 pipeline could not come to an end. It is expected to finish in August 2021.
Russia is one of the major producers and gas suppliers of the world. The natural gas supply-demand is increasing day by day. So, to fulfil the demand of the world, the Nord Stream pipeline project started. The project was aiming to supply natural gas all over Europe, as US LNG costs way more. According to research, the Nord Stream 2 pipelines will supply cheaper natural gas, that expects to reduce approximately $41.3 billion per year.
Nord Stream 2 is also opening up to 31K jobs with an increment of $2.655 billion in the GDP of European countries. Furthermore, it is more secure and provides a short route of natural gas supply. There are many other gas supply routes available, but this is the easiest route of all. It will be more beneficial for European countries to get their natural gas supply from this.
Although, Nord Stream 2 is very beneficial for European countries, it is still facing many hurdles in its completion. Last year the US refused to complete this project, then Russia and Germany aimed to establish it by themselves. On the other hand, Ukraine is not happy with this project because of the dispute between Russia and Ukraine that they are facing for the last few years. Russia turned off Ukraine’s gas supply. And this led to the Cold War between these countries.
Because of the gas supply cut off, the Ukrainians faced unemployment and bore many winter months without a gas supply. Due to the cut-off of gas supply, many European countries also faced gas shortages along side Ukraine, because these European countries were using Ukraine’s pipelines to get natural gas from Russia. Ukraine dislikes this project because European countries will get a direct gas supply through the Nord Stream pipeline that can lessen the utility of Ukraine’s pipelines. As a result, Ukraine will lose its impact on European countries and this will lead to money loss. Also, Russia could get more chances to interfere in Ukraine’s matter.