Nord Stream 2 controversy goes far beyond Trump

MLex Market Insight

News

4.9 • 9 Ratings

🗓️ 18 July 2018

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Germany’s plans to build a new gas pipeline from Russia drew criticism from Donald Trump last week, in the latest spat between the US president and his supposed allies. In this case, though, he may be in line with European opinion: Several governments, pressure groups and even the European Commission oppose the pipeline on environmental or energy-security grounds. But stopping it won’t be easy, as energy reporter Emily Waterfield explains to Brussels news editor Sam Wilkin.

Transcript

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0:00.0	Hello and welcome to another M-X podcast.
0:08.5	I'm Sam Wilkin, Brussels News Editor, and today we're going to talk about Nord Stream 2.
0:13.3	The planned pipeline from Russia to Germany made headlines last week after coming into Donald Trump's crosshairs,
0:19.4	but it's been controversial since long before then.
0:22.1	To find out why, I'm joined today by Emily Waterfield, our senior energy correspondent here in Brussels.
0:27.8	Hello, Emily.
0:28.6	Hi, Sam.
0:29.4	Emily, what's the plan? What is Nord Stream 2 and why is it so controversial?
0:33.8	Well, simply speaking, Nord Stream 2 is a pipeline, a gas pipeline, that would bring an extra
0:38.5	55 billion cubic metres of gas from Russia to the EU to Germany, roughly along the
0:44.5	route of an existing pipeline called Nord Stream.
0:47.7	Gas pram is the sole shareholder, and it's also covering half the cost, but the other half
0:53.2	is covered by five EU energy companies.
0:57.0	We have Engie for France, we have Shell,
0:59.5	so for the UK and the Netherlands, OMV for Austria,
1:02.9	Winter Shell and Unipar for Germany.
1:05.3	The first controversy that we got,
1:07.2	there are a lot that we'll cover in this talk,
1:10.0	but the first question was, what will
1:12.4	this do to Ukraine? At the moment, the EU gets about a third of its gas from Russia, and about
1:19.2	half of that comes through Ukraine. Ukraine and Russia obviously are at war, or have been at war,
1:24.7	and Ukraine is very nervous about what the pipeline is going to do.
	...

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