Nord Stream 2, the gas pipeline to directly connect Russia and Germany, is undoubtedly bad for Ukraine. It will allow Gazprom to largely circumvent the Ukrainian gas transit system when supplying EU consumers. This could result in significantly lower transit revenues for Ukraine: up to $2 billion per year, which currently corresponds to about 2-3 percent of Ukraine’s GDP.
Ukraine's Energy Challenge
OP-ED
Georg Zachmann: The clock is ticking – Ukraine’s last chance to prevent Nord Stream 2
Russian gas giant Gazprom's Chief Executive Officer (CEO) Alexei Miller (front L) and Chief Executive of French multinational electric utility company Engie Isabelle Kocher (front R) speak together as they are flanked by the Head of the supervisory board of Gazprom's Nord Stream 2 and former German Chancellor Gerhard Schroeder (rear R) during a signing ceremony for the Nord Stream 2 gas pipeline agreement, in Paris, on April 24, 2017.
