Why World Frets Over Russian Nord Stream 2 Pipeline: QuickTake

摘要

A natural gas pipeline being built under the Baltic Sea from Russia to the German coast is shaking up geopolitics. Nord Stream 2, as it’s called, fuels worries in the U.S. and beyond that theKremlin’s leverage over Europe and its energy market will increase once the twin pipeline is operational. Championed by outgoing German Chancellor Angela Merkel, the project is headedfor completion this year after U.S. officials backed down from broadening sanctions.It’s a 1,230-kilometer (764-mile) pipeline that will double the capacity of the existing undersea route from Russian gas fields to Europe -- the original Nord Stream -- which opened in 2011and can handle 55 billion cubic meters per year. Russia’s Gazprom PJSC owns the project operator, with Royal Dutch Shell Plcand four other investors contributing half of the 9.5 billioneuro($11.2 billion) cost.