On 22nd February, Germany decided to freeze the ‘Nord Stream 2’ gas pipeline which was beneficial to the whole of Europe as it can double the flow of Russian gas direct to Germany and Europe.
Now, the whole of Europe is in turmoil. Last week, it was reported that Ukraine has partially halted gas supplies to Europe. Ukraine on Tuesday said that it would suspend operations of the Novopskov compressor station that delivers around a third of gas piped from Russia to Europe via Ukraine.
This is a huge setback for the European gas industry because Ukraine’s assistance is pivotal for its overall energy security. The Ukraine gas transit system in the Luhansk region accounts for the supply of around 32.6 million cubic meters of Russian gas every day to Europe.
If the Novopskov compressor station in the Luhansk region of eastern Ukraine remains inoperative for a longer period, then we could see yet another phase of the fuel price spike in the European Continent. So, this move by Ukraine could very well trigger Europe to rethink its decision of suspending Nord Stream 2 gas pipeline.
There are chances of acute gas shortages and chances of a recession hitting the entire continent. The decision to avoid Russian gas and fuel has to be the silliest mistake the bloc has ever done.
But, now Europe is coming back to its senses as nations have started softening their stances in the war. Furthermore, several members of the bloc are reluctant to impose more sanctions on Russia. Slowly and steadily, the chances are rising that Europe may soon think to re-activate the Nord Stream 2 project.
Potential of The Project
The Nord Stream 2 is an underwater twin pipeline with a length of 1,230 kilometers, it follows the route of the existing Nord Stream twin pipeline underneath the Baltic Sea with a capacity to run 110 billion cubic meters of gas a year.
Once completed, the Gazprom could have easily sent gas to Europe’s pipeline system without using existing pipelines running through Ukraine and Poland.
It could have lowered the costs to European pockets by saving transit fees paid to Ukraine and avoiding episodes of brief cutoffs over price and payment disputes between Russia and Ukraine.
But, Germany halted the project, and look where the bloc stands now. Episodes of brief cut-offs are looming in Europe and no alternative is visible insight.
Yesterday, Russia curbed gas supplies to Germany in a warning for Europe. Moscow’s move slashed deliveries by about 3% of German imports impacting the cost of living which is already a major issue in Europe.
Read More: Miffed at EU’s cold response, now Ukraine stops Russian gas supplies to Europe
Sense Prevailing
The latest actions are indicating that Europe may finally have understood its mistake as it has started rolling back on a few decisions.
For instance, several EU nations have raised concern over new sanctions by European Union. Countries like Hungary have decided to veto the sanctions. Whereas, other countries have also raised concerns.
Furthermore, most nations have also accepted Gazprom’s demand for payment in rubles. A few governments have to indirectly soften their stance as cost-of-living is hitting hard on the civilians. Germany to be precise is softening its stance as the german chancellor Olaf Scholz is losing support from the people.
In addition, most of the industries in the European nations have economic machinery and structure designed to operate only on Russian oil. Shifting to alternatives may reduce the efficacy of the machinery.
The pressure is mounting over the bloc to reduce the impact generated in aftermath of the war, whatever it takes. And honestly, no other option other than restarting Nord Stream 2 is preferable to the bloc.
Read More: After Biden’s reign is over, Europe and Russia will become the best friends forever
Sooner or later, most of the bloc nations will realize that there are no alternatives to Russian oil and gas and in the end, Europe needs Russia more than anyone else.
So, there are really good chances that the Nord Stream 2 may get restarted very soon as it is the only project that has the potential to help Europe recover as soon as possible from the mess that is created by its own action.
A tinpot country holding the world to ransom. For what?
Nord stream – 2 gas pipe line is already completed and ready for start pumping 55 bcm / year as soon as the German authorities approve and agreed .
The truth is it was the US interest prevails because the US wants to sell their LNG (liquefied petroleum gas) to the entire Europe in a high cost price over from the Russian natural gas the EU have no choice but to cancel the ongoing Nord stream 2 project because of the pressure coming from the US as part of the sanctions vs Russia’s special military operations in Ukraine
This article and the organization behind its creation is a part of Russia’s propaganda campaign. Yes, this seems to work on the Russian people along with threats of prosecution if you say otherwise. The free world is not as ill informed and just plain mentally genetically disadvantaged as the Russian people. We know the truth. When we hear stupid babble like this article we find it amazing that such lies (obvious on their face) are worth the attempt to sell. Simple lies told by simple people, for the purpose of misleading their simple minded countrymen. Russia is a sad pariah country doomed to maintain its lowly income and isolated state.
I fully agree with you. The Russian people are indeed mentally disadvantaged having noticed the amount of food they mount on their plates at the holiday resorts and dump half of it afterwards and this while the poor Turks are staving.
Mistake has been made by Eu that make them an weaponising against Russian oil and gas but now they have foreseen the consequences.
You’re spreading fake news, you unprofessional reporter. Who gives a heck about what this author thinks? Why are you saying you “think” Europe will reconsider? The author of this article and TFI l should be sued for libel because of your goddamned headline.
You’re quite unprofessional, spreading fake news and manipulating traffic!
This article is full of false statements. Many countries in Europe already import gaz from several countries and it’s easy because gas is either rich or poor, there isn’t 50 kinds of gazes that machines support.
In Europe, we agree that relying so much on one big provider was a strategic mistake, especially when that country is often sending jet fighters on our air space to test the speed of our defenses.
Just now, Sweden and Finland decided to join Nato after decades of military non-alignment. After Russia got about 1/3 of its troops killed, thanks to all the equipment send by western countries to allow Ukraine to defend its sovereign state, Western countries are accepting to send even more advanced weapons.
We also saw a dozens western politicians visit Kyiv and Odessa to show their commitment, and see on the field all the war crimes committed by Russian troops, including rape od children and raped naked girls hanged in trees. To stop this, Europe and US are committed to support Ukraine until the end of the war, no matter the cost. Even Polish are happy to now have 10% of its citizens as Ukrainian refugees.
Yes Laurent no war is good and just causes suffering to innocent people. However, where were you and most of the European people when US and NATO troops went into Libya, Iraq, Syria and Afghanistan killing millions of innocent civilians, most of whom were old men, women and children? What had the Afghans ever done to you or the Americans? Did they ever harm you or threaten you or did they ever ask or tell you to govern your country or to hold elections according to their culture, traditions or economic and social conditions? Similarly, what harm did the Iraqi people or even Saddam Hussain ever do to your country and its people. What did Iran do against you that you supplied Iraq with arms and even chemical weapons in their war against Iraq in the eighties? Please look at your own actions first before condemning others. What has the west done to hold Israel responsible for violating the UN resolutions and continuing to ignore them? What have the western countries done to ensure that Israel abides by the International Court of Justice and European Court judgements about putting a halt to new settlements on Palestinian people’s land? I am sorry but with these double standards you do not have much credibility in my eyes anyway.
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Nice article. Good 👍 👍 👍
Thanks