Denmark finally approves Russia’s Nord Stream 2 Project through the Baltic Sea

The Danish Energy Agency has granted a permit to Nord Stream 2 AG to construct a section of the Nord Stream 2 natural gas pipelines on the Danish continental shelf southeast of Bornholm in the Baltic Sea.

Nord Stream 2 AG, the operator of the Nord Stream 2 project, has laid more than 2,100 kilometers (1,300 miles) of the gas pipeline to date and will begin preparatory work and pipe laying near Denmark in the coming weeks, the company said in a statement.

Denmark’s decision on Nord Stream 2 is good news for European consumers as it ensures the competitiveness of the European economy, the German Committee on Eastern European Economic Relations said.

Additional gas supplies help us maintain stable energy prices during periods of declining domestic production in the EU and growing demand.

Earlier in October, Gazprom announced that 83% of the Nord Stream 2 pipeline — a 1,269-mile stretch in the Baltic Sea — had been completed, adding that the pipeline is expected to be completed by the end of 2019.

Denmark’s principled position delayed the project for some time, but geopolitical weapons cannot be stopped with instruments that regulate exclusively trade relations.

Denmark’s move on Nord Stream 2 makes gas reforms in Ukraine now a top priority. The completion of gas market reforms and the full implementation of European energy legislation in Ukraine becomes even more important.

The Nord Stream 2 project envisages the building of a twin pipeline that will deliver around 55 billion cubic meters (almost 2 trillion cubic feet) of gas directly to Germany and other European countries.

The pipeline for carrying Russian natural gas to Europe is set to pass through the territories of Denmark, Finland, Germany, Russia, and Sweden.

For months, the project has drawn opposition from a number of countries, especially Ukraine, which claims that Moscow plans to deprive Kiev of its gas transit revenues.

The United States, which is trying to sell more of its own liquefied natural gas to its overseas allies, insists that the project will make Europe dependent on Moscow. But in reality, the US concerns over Nord Stream 2 are about fear of losing leverage, not welfare of Europe.

Sputnik / ABC Flash Point Gas & Oil News 2019.