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Nord Stream 2

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Nord Stream 2 AG, the project company established for planning, construction and subsequent operation of the Nord Stream 2 Pipeline is owned for 50% by Gazprom. Nord Stream 2 AG signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall<ref>[https://www.nord-stream2.com/company/shareholder-and-financial-investors/ Nord Stream 2: Shareholder and Financial Investors]</ref>. The combined experience of these energy companies is thought to ensure the best corporate governance for this project. Both Gazprom and Germany stated that Nord Stream 2 would improve the reliability of gas delivery while facilitating the development of the European gas market<ref>[https://www.nord-stream2.com/ Nord Stream 2 official website]</ref>.
==Criticism==
However, the The construction of the new gas transmission pipeline has attracted controversy. The main elements element of this agreement the disagreement lies in the fact that Nord Stream 2 will bypass Poland, the Baltic countries, Belarus and Ukraine, key routes for gas flows towards Europe. These countries would further lose their transit rights and have no way of influencing negotiations with Russia. Nord Stream 2 has faced opposition from some European politicians because of the deadlock over Ukraine. Already in June 2014 Russia had decided to stop supplying Ukraine with gas, risking to cut off supplies for European customers as well<ref>[http://www.telegraph.co.uk/news/worldnews/europe/ukraine/10902693/Analysis-After-months-of-threats-Russia-uses-gas-weapon-against-Ukraine.html The Telegraph, by David Blair "Analysis: After months of threats, Russia uses gas weapon against Ukraine"]</ref>. However, Germany said it would only agree to the deal if Russia does not stop gas flows to Ukraine and eastern Europe when the transit contract comes to an end in 2019.
Yet, despite its oppositions, the project will be decided on not by the EU as a whole, but by the permitting authorities of the five countries whose waters would be crossed by the pipeline: Russia, Finland, Sweden, Denmark and Germany. For the time being, Finland, Sweden and Denmark do not want to block the realisation of the project.
==References==
Retrieved from "http://energywiki.eyp.org/view/Special:MobileDiff/1281"

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