Nord Stream 2 is supposed to link Russia with Germany along the bottom of the Baltic Sea. The length of the route is over 1200 km. The construction of the gas pipeline began in 2018. Since the end of 2019, the project and the companies participating in it are under US sanctionswhich have been expanded several times.
Construction was frozen in 2019 when 93% of the pipeline was completed, a year later, in December 2020, it was resumed.
The pipeline operator Nord Stream 2 AG reported in July 2021 that Nord Stream 2 completed by 99%, its construction can complete by the end of August, and the start-up of gas is possible this year. In connection with this project gas transit through Ukraine may be under threat.
The cost of the Nord Stream 2 project is € 9.9 billion, it is financed by the Russian Gazprom and five European companies: Anglo-Dutch Shell, German Wintershall and Uniper, French Engie and Austrian OMV.
The authorities of Ukraine, Poland, Hungary, Moldova, Romania, Czech Republic, Slovakia, Latvia, Lithuania and Estonia consider “Nord Stream 2” a threat to Europe’s energy security.
Joe Biden’s Administration opposed construction gas pipeline, but at the end of May Biden called “counterproductive” from the point of view of relations with Europe, the introduction of new sanctions against Nord Stream 2, since the gas pipeline is “practically finished.”
Germany and the United States reported on July 21 that signed an agreement on the Nord Stream 2 gas pipeline… Germany promised that it would apply national sanctions against Russia and call for effective EU measures if the Russian Federation will continue to use gas as an instrument of pressure on other countries or “will commit further aggressive actions against Ukraine.” According to the agreement, transit through Ukraine after the commissioning of the gas pipeline must be renewed for 10 years (the current transit contract ends in 2024).
In addition, the United States and Germany will work on an investment fund worth at least $ 1 billion, which will go to the development of renewable energy sources in Ukraine. Germany will initially contribute at least $ 175 million to this fund.
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