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Mahesh

04/10/22 06:04 AM IST

Nord Stream pipeline

In News 
  • Four leaks were reported at different points in the Nord Stream pipelines, linking Russia and Europe.
Nord Stream 
  • Nord Stream consists of two pipelines, which have two lines each.
  • Nord Stream 1 was completed in 2011 and runs from Vyborg in Leningrad (Russia) to Lubmin near Greifswald, Germany.
  • Nord Stream 2 which runs from Ust-Luga in Leningrad to Lubmin was completed in September 2021 and has the capacity to handle 55 billion cubic meters of gas per year once it becomes operational.
  • The twin pipelines together can transport a combined total of 110 billion cubic metres (bcm) of gas a year to Europe for at least 50 years.
  • The Nord Stream crosses the Exclusive Economic Zones (EEZs) of several countries including Russia, Finland, Sweden, Denmark and Germany, and the territorial waters of Russia, Denmark, and Germany.
  • In Germany, the pipeline connects to the OPAL (Baltic Sea Pipeline) and NEL (North European Pipeline) which further connects to the European grid.
Significance 
  • Europe:
  • Europe requires more than 100 billion cubic metres (bcm) of natural gas each year and around 40% of its gas comes from Russia.
  • Over the last few years, Europe has become more dependent on gas imports because of a decrease in domestic gas production. Reducing dependence on Russian gas is difficult as there are no easy replacements.
  • Many European businesses have large investments in Nord Stream 2 and there is pressure on governments from these businesses. Finally, a reduction in gas from Russia would increase already high gas prices and that would not be popular domestically.
Russia:
  • As for Russia, which has the largest natural gas reserves in the world, around 40% of its budget comes from sales of gas and oil.
  • Nord Stream 2 is important because it eliminates the risks related with sending gas through transit countries, cuts operating costs by doing away with transit fees and gives direct access to its most important European customer, Germany.
  • It increases Europe’s dependence on Russia while giving it a reliable customer.
Source- The Hindu 

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