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Significance

The Nord Stream gas pipeline is a fundamentally new route for Russian gas exports to Europe. The target markets for gas supplies via Nord Stream are Germany, the UK, the Netherlands, France, Denmark and others.

The new gas pipeline is extremely significant for meeting the increasing natural gas demand in the European market. Gas imports to the EU are anticipated to grow in the coming decade by nearly 200 billion cubic meters or more than 50 per cent. Due to a direct connection between the world’s largest gas reserves located in Russia and the European gas transmission system, Nord Stream will be able to satisfy about 25 per cent of this extra demand for imported gas.

In this regard, back in December 2000 the European Commission had assigned the Nord Stream project the Trans-European Network (TEN) status which was confirmed once again in 2006. This means Nord Stream is a key project aimed at creating crucial cross-border transport capacities with a view to ensure sustainability and energy security in Europe.

The energy moves the world. It is a necessary element for any movement, development and progress. Euro Energy is a specialized web portal that provides an analytical perspective...

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