We have launched our mobile app, get it now. Call : 9354229384, 9354252518, 9999830584.  

Current Affairs

Nord Stream 2 pipeline

Date: 24 July 2021 Tags: Miscellaneous

Issue

The US has given its approval for construction of Nord Stream 2 gas pipeline from Russia to Germany.

 

Background

A major standoff had taken place between US and its European partners over their intention of buying gas from Russia.

 

Details

  • Under the new deal, Germany will use its power to stall Russia if it tries to use the gas pipeline as a political leverage.

  • There is fear that the pipeline will make Europe dependent on Russia for energy security. The agreement is a further compromise shown by West.

  • The Western European countries have intention of getting access to Russia’s energy but do not approve political authority of President Putin.

 

The Nord Stream 2

  • Nord Stream 2 gas pipeline is built by Russian energy company Gazprom and other five European companies.

  • The pipeline will pass through the Baltic Sea from Ust-Luga in Russia to Greifswald in Germany. It is valued at about $11 billion.

  • The new pipeline will compliment the already existing Nord Stream 1 pipeline and together will supply natural gas to Germany.

 

Controversy

  • US has opposed the project citing its threat for security of Europe. It feels that the pipeline will make Western Europe dependent on Russia for their energy needs.

  • Ukraine has also opposed the project as it will lose out on the transit fees it gets for existing land pipeline between Russia and Europe.

 

Change in stance

US has given its blessings after it was felt that Germany was strictly against its actions. Instead of sanctions, it has threatened of sanctions if the pipeline is used as leverage.