Nord Stream 2 is a 1,230-kilometer-long natural gas pipeline from Russia to Germany which passes through the Baltic Sea. It is operated by Nord Stream 2 AG, a Swiss-based project company whose board of directors is chaired by the former German chancellor, Gerhard Schröder. Nord Stream 2 AG is owned by a subsidiary of the Russian energy giant
. The pipeline is located parallel to its twin,
, which is co-owned by Gazprom. The investors of Nord Stream 2 are European energy companies Engie, OMV, Royal Dutch Shell, Uniper, and Wintershall DEA.
What is the current status of Nord Stream 2?
The pipeline Nord Stream 2 has not been put in operation. In September 2021, the project's construction was completed. In November 2021, the pipeline's certification was suspended by the German Federal Network Agency until Nord Stream 2 AG transfers assets to its German subsidiary to comply with German regulation. On February 22, 2022, Germany halted the certification process in response to Russia's military buildup on the border with Ukraine ahead of the
invasion that began two days later. On September 26, gas leaks were detected on Nord Stream 1 and Nord Stream 2 as a result of explosions whose cause has not been identified as of October 2022.
Nord Stream 2 and European gas security
The construction of
Nord Stream 2 faced sanctions by the U.S. which, together with Poland, Ukraine, the Baltic states, and other countries, saw the project as an attempt by Russia to increase its political influence over Europe. In 2021, Germany and the U.S. came to a deal that ensured support toward energy security and investment in Ukraine, whose role of a gas transit state could be threatened by the new pipeline. Another criticism toward Russia with regard to Nord Stream 2 is that the country could have used it to pressure European countries to approve the pipeline by reducing gas supplies through existing routes in the fall of 2021, leading to a
gas price increase in the region. If approved, Nord Stream 2 would provide additional 55 billion cubic meters per year to the European Union (EU) gas supply, potentially
increasing Russia's share in it by four percent in 2025.
The dominant operator issue in Nord Stream 2
The EU Gas Directive states that the owner of a gas pipeline should be different from its supplier in order to ensure fair competition. That means if the pipeline is approved, Gazprom would not be allowed to supply gas through it alone and would have to auction some capacity to other companies. However, under the current Russian legislation, it cannot share capacity with any other domestic producer because it is the only one that is permitted to export pipeline gas abroad. Facing that issue, the Russian government was looking at giving export rights to
Rosneft, its third-largest gas producer. Furthermore, Nord Stream 2 AG was seeking an exemption from the EU Gas Directive.
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