Nord Stream 2 is a $12 billion pipeline bringing the Arctic Russian gas under the Baltic Sea to Germany. Doesn’t seem that hot-button right. I mean, it’s a progressive initiative that is expected to double the Russian gas supply to Germany, Europe’s largest economy. It’s a little more complicated than that. The reality is that Russia already supplies 40% of the EU’s total gas supply – just behind Norway. The new pipeline is reportedly touted to increase that amount by as much as 55 billion cubic meters per annum. That project has thus permeated a prospect of EU’s dependence on Russia, majorly spearheaded by the Russian-arch-rival United States. Another hurdle is that the pipeline is effortlessly skipping Ukraine to supply gas to Germany. With the Moscow-Ukraine Transit agreement expiring in 2024, it is estimated that the pipeline would cost Kyiv an annual loss of $1.5 billion in transit fees. Thus, brewing geopolitical aggravation and monopolizing concerns misting Russia, the Nord Stream 2 Pipeline is much more complicated than I initially assumed; until I dabbled with each perspective in detail.
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