«Nord Stream 2» and the transformation of the EU energy market

Chuvychkina I.A.


The project of a new gas pipeline, «Nord Stream – 2», is criticized by several European countries, and the actions of the United States impede its implementation. The conflict situation is intricately connected to the intensifying competition between suppliers of pipeline and liquefied natural gas in Europe. The decarbonization strategy and the Green Pact for Europe cast doubt on the feasibility of increasing gas exports. In addition, the EU’s Liquefied Natural Gas strategy contributes to reducing the importance of pipeline gas. At the same time, the commissioning of a new gas pipeline has a significant impact on transit countries. The positive or negative perception of the project by various actors depends on the degree of involvement in the project, the expected benefits from its implementation, and the level of energy dependence on Russia. The paper discusses the prospects for Russian gas exports, considering the transformative impact of the EU’s transition to a lowcarbon model of economic development. In addition, opportunities for cooperation with the EU in hydrogen technologies and hydrogen production are highlighted, and issues of using the facilities of Nord Stream 2 in the framework of hydrogen cooperation with Europe. This work is devoted to the economic justification of the project in the light of the transformation of energy markets and formats of interaction with the main consumers of Russian gas in Europe. The article also examines the short-term and long-term economic effects of the Nord Stream 2 project in the context of the influence of external factors on the development of Russia’s energy strategy.


Nord Stream 2; LNG; decarbonization; pipeline.

DOI: 10.31249/rsm/2022.01.06

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