Poroshenko: “Nord Stream 2 is tool of blackmail from Russia”

According to Ukrainian President Petro Poroshenko, the Nord Stream 2 is a political project that Russia will use to blackmail Europe. He also fears that the construction of this new pipeline will create more uncertainty about the supply of natural gas to Ukraine. For that reason, the project should be revised in its entirety, the president said in an interview with Funke Media Group.

“I am sure that an attempted gas poisoning in Salisbury will affect the Nord Stream 2. This pipeline project requires an assessment from an economic, political and moral point of view. Moscow repeatedly showed itself in true colors in the issues of gas blackmailing.”

According to Poroshenko, the Nord Stream 2 is more a political than an economic project. All parties supporting this project are therefore acting like allies of Putin’s hybrid warfare against the West, according to the Ukranian president.

Nord Stream 2

With the construction of the Nord Stream 2, the amount of natural gas Russia can export directly to Germany will be doubled from 55 to 110 billion cubic meters per year. To put that into perspective: for the whole of 2017, Russia exported a record amount of 193.9 billion cubic meters of natural gas to Europe. This would mean that Gazprom could serve more than half of the European market via Germany with the construction of a second pipeline in the Baltic Sea.

The Kiev government is worried about this development, because Gazprom’s projections suggest that they want to phase out the transport route through Ukraine. This means a loss of the approximately $2 billion in revenues from the transit of natural gas to Western Europe and a worse negotiating position vis-à-vis Russia.

Economic or political project

Poroshenko claims that the Nord Stream 2 is more a political than an economic project, but those statements are diametrically opposed to those of the government leaders of the Netherlands, Germany and Austria. They talk in almost identical terms of a purely economical project.

The Nord Stream 2 is a joint venture of € 9.5 billion, half of which is financed by the Russian Gazprom and the other half by five European energy companies, namely Wintershall (Germany), Royal Dutch Shell (Netherlands), Uniper (Italy), Engie (France) and OMV (Austria).

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