NORD STREAM 2: What is it and why is it important?
One option in the West's toolbox has been the threat to cut Nord Stream 2 from operations. Germany isn't delighted with this idea. Cutting gas acquirement from Russia means that Europe is left in an energy crisis. With finances decimated from pandemic restrictions, surging energy and life costs affect the bottom dollar of every European household. So, lets see what Nord Stream 2 is and why is it so hotly debated in the fight to prevent a European war. WHAT IS NORD STREAM 2? Nord Stream 2 is the sister project to the already functioning gas line, Nord Stream 1, that has been operational since 2011. It is an offshore project running from region of St Petersburg to Lubim, North-eastern Germany. It runs through the Baltic Sea, under the water. The pipeline was estimated at around 9.5 billion euros, but costs have run up to 11 billion euros. Its main shareholder is Gazprom. The project was started in 2018, and was due to be completed in 2019, but was finished in September 2021. Now,...