Nord Stream 2, Solution to the Energy Crisis?

Vladimir Putin accuses Europe of being the cause of the energy crisis. He then recalls that Nord Stream 2, whose certification process has been interrupted by Germany, could solve the crisis.

Partagez:

Is Nord Stream 2, the gas pipeline whose construction was completed in September 2021, the solution to the energy crisis? This is what Vladimir Putin said after the summit of the Shanghai Cooperation Organization.

Europe, responsible for the energy crisis

According to the Russian president, Moscow is not responsible for the energy crisis currently affecting Europe. According to him, Russia is fulfilling its energy obligations. Thus, he says that the opening of Nord Stream 2 could solve the EU’s gas supply problems.

Nord Stream 2, Gazprom’s gas pipeline, has been ready since September 2021. However, Germany has suspended the certification process for Nord Stream 2. The country is asking for more guarantees.

Vladimir Putin states:

“If it is so difficult for you, just lift the sanctions on Nord Stream 2, which represents 55 billion cubic meters of gas per year. Just press the button and everything will [re]begin.”

Nord Stream gas pipelines, epicenter of the energy war

Nord Stream 2, which lies on the bed of the Baltic Sea, has been operational for about a year. Nevertheless, Germany decided not to put it into service a few days before Russia sent its troops to Ukraine on February 24.

European gas prices have more than doubled compared to the beginning of the year in a context of declining Russian supplies. In the EU, soaring energy prices have squeezed already struggling consumers. In addition, this price increase has forced some industries to stop production.

European leaders then accused Russia of using energy supplies in retaliation for Western sanctions. Russia claims that the West has launched an economic war. It would then be the European sanctions that would have hindered the maintenance operations of the Nord Stream 1 gas pipeline.

Russian gas giant Gazprom said earlier this month that Nord Stream 1 would remain closed. The closure of Russia’s only gas supply route to Europe then drove up wholesale gas prices.

Russian leaders have also cut off gas supplies to several countries, including Bulgaria and Poland. The reason is that these states refused to pay in rubles rather than in the contract currency.

The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.
Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
Donald Trump is calling on the United Kingdom to abandon wind energy in favor of revitalizing offshore oil extraction, sparking debate over the economic and political implications of such an energy strategy after their recent trade agreement.
China and Egypt concluded over 30 energy-focused agreements, including electric vehicles, smart grids and storage technologies.