Tag "Nord Stream 2"
Europe’s Energy Dependence on Russia Leaves Moldova Vulnerable
The global surge in demand for natural gas following the easing of COVID-19 restrictions has had a devastating impact on Moldova’s energy security. Chisinau had no choice but to enter into negotiations with the Russian state-owned gas giant, Gazprom, to restore its energy supplies. As Russia is set to increase its share of European gas imports in Nord Stream 2, the EU must find a way to help protect Moldova from further Russian pressure.
Will Further Sanctions Stop the Nord Stream 2 Gas Pipeline?
The Nord Stream 2 gas pipeline through the Baltic Sea is intended to transport natural gas from Russia to Europe, mainly to Germany. There are only 150 kilometers (93 miles) before the Baltic Sea pipeline is completed. Despite warnings from German politicians to impose further sanctions following a suspected poison attack on a Russian opposition figure, it is unclear whether construction works will come to a full stop.
Price War: OPEC+
After OPEC ally Russia refused to cut production, Saudi Arabia launched a price war, sending global oil prices to as low as $32 a barrel on March 9th.
EU divisions and US sanctions to delay Nord Stream 2
Under pressure from US sanctions, legislation in Denmark, and weakening support in Germany, Nord Stream 2 will likely be significantly delayed.
Why Nord Stream 2 will go ahead despite opposition
Opposition to the Nord Stream 2 pipeline will be outweighed by existing investments, economic benefits, and the backing of major European powers.
Divisions over Russia hinder Europe’s Energy Union
Incongruities between Eastern and Western Europe on Nord Stream 2 are burdening the European Energy Union — with the potential for great economic impact.
