Germany has canceled the project, saying that it strongly opposes Russia's action against Ukraine. Chancellor Scholz said that it was necessary for Russia to return to the negotiating table and the need of the whole world was to stop such unilateral decisions.
German Chancellor Olaf Scholz on Tuesday decided to cancel his crucial Nord Stream 2 pipeline project with Russia. This decision from Germany comes at a time when Russia has started sending its troops to two cities of Ukraine - Donetsk and Luhansk. How important the Nord Stream 2 pipeline is for Europe and the whole of Russia, it can be gauged from the fact that Russia was about to double its oil and gas supply to Germany through this project and this would improve the economic condition of the Putin government. was likely.
Germany has canceled the project, saying that it strongly opposes Russia's action against Ukraine. Chancellor Scholz said that it was necessary for Russia to return to the negotiating table and the need of the whole world was to stop such unilateral decisions.
Learn what is the Nord Stream Pipeline Project?
1. Nord Stream is a 1200 km long pipeline. It runs from western Russia to north-east Germany through the Baltic Sea. Germany wants to double the supply of natural gas from Russia through this pipeline project.
2. The work of this pipeline, built at an expenditure of Rs 83 thousand crore, has been completed in September 2021. However, some important approvals are yet to be received, due to which the pipeline has not been inaugurated.
3. This pipeline will supply every 55 billion cubic meters of gas to Germany, so that the supply of gas and petrol to 26 million homes in Germany will continue uninterrupted even in winter. The project is owned by the Russian state-owned company Gazprom. Russia currently sends gas to Germany via the Nord Stream 1 pipeline. It currently has the capacity to supply 55 billion cubic meters of gas annually. The new pipeline will double this supply.
How important is this project for Russia?
1. If Russia starts supplying gas to Germany through this pipeline, then it will be seen as a big diplomatic move of Putin. In fact, Russia currently supplies more than 40 percent of Europe's total energy needs (oil and gas). In such a situation, this pipeline of his will make Europe's richest country Germany completely dependent on itself. Despite this, Germany will be forced to face Russia for fear of sanctions.
2. The US, Ukraine and Poland have been opposing Russia's pipeline project. Russia currently supplies most of its natural gas through Ukraine. While Nord Stream 1 and Nord Stream 2 do not pass through Ukraine. Due to this Russia would not have to give any kind of amount to Ukraine. At present, this project not only costs Ukraine $2 billion in transit fees, but also has no plans to rein in Russia.
How much will Russia suffer?
If there is any kind of ban on this project, then it is likely to have a negative impact on Russia's earnings. To save his economy, he will have to supply oil and gas by sea or road, in which he will suffer a lot of economic loss. Also, Ukraine will benefit greatly from this.
How much damage is likely to Europe?
If the Nord Stream project is stopped, then it threatens to deepen the gas crisis in Germany as well as in other European countries, because in anger, Russia wants to bring European countries to their knees by stopping the rest of the oil and gas supplies to Europe. can try. Most of Europe's countries currently depend on Russia for imports of natural gas and oil.
How can America come forward to help Europe?
After the ban on Nord Stream 2, Russia's move to cut off gas-oil supplies to Europe could prove to be dangerous. To avoid this, the US has recently approached Qatar, which has tremendous gas and oil resources in the Arab world. With the help of Qatar, the US can get Russia's interrupted supplies back to Europe and can succeed in preventing Russia from attacking Ukraine.
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