Nord Stream 2 Pipeline Blocked Amid Russia-Ukraine Crisis

German Chancellor Olaf Scholz announced the blocking of the Nord Stream 2 pipeline in retaliation for Russia's aggression on its border with Ukraine. The pipeline's operator, Russian state-owned gas giant Gazprom, has yet to receive European regulatory approval to commence operations. The move comes as an estimated 130,000 soldiers and armoured vehicles have assembled near the border, with Moscow formally recognizing the separatist regions of Donetsk and Luhansk as independent states.

Key Takeaways:

• The Nord Stream 2 pipeline, valued at £8.3bn, was completed in September 2021 but has not received regulatory approval to operate.
• German Chancellor Olaf Scholz announced the pipeline's blocking in response to Russia's military build-up near the Ukraine border.
• The pipeline would have enabled Russia to pump an additional 55 billion cubic meters of gas to Germany annually, doubling its current capacity and increasing regional energy dominance.
• The original Nord Stream pipeline, completed in 2012, runs parallel to Nord Stream 2 but terminates at a different point of origin, Vyborg, on the northern coast of the Gulf of Finland.
• Russia's actions could be seen as punishment for Ukraine's rejection of Russian president Vladimir Putin's influence and its desire to join NATO.
• German energy company Uniper, one of the largest buyers of Russian gas, has declined to comment on the potential impact of the pipeline's blocking.
• US President Joe Biden and German Chancellor Olaf Scholz discussed the pipeline's fate during a joint press conference at the White House.
• US Secretary of State Antony Blinken reassured Europe that the US would support its energy needs in the event of supply disruptions.

Statistics:

• Estimated 130,000 soldiers and armoured vehicles assembled near the Ukraine border (Source: Military strength of Ukraine and Russia infographic created by Statista).
• Anniversary of Russia's annexation of the Crimean Peninsula: 2014 (Source: Text).
• Estimated 55 billion cubic meters of additional gas that Nord Stream 2 would have enabled Russia to pump to Germany annually (Source: Text).
• 26 million German homes that Nord Stream 2 would have enabled to heat (Source: Text).
• 3% of the UK's gas imports from Russia (Source: Text).
• 40% of Germany's gas imports from Russia (Source: Text).
• 100% of Finland's gas imports from Russia (Source: Text).
• €43.5 billion of potential loss to Gazprom if the pipeline is blocked, according to an estimate by US investment bank Stifel (Source: Text).

Sources:

• Text: Original article on the Nord Stream 2 pipeline blocking amid Russia-Ukraine crisis.
• Statista: Military strength of Ukraine and Russia infographic.
• The Independent: Caption and infographic.