By Nolan Theisen. Photo|tomtunguz.comFollowing the cancellation of South Stream, Nord Stream 2 (NS2) represents Gazprom’s last opportunity to effectively bypass Ukraine entirely for continental European deliveries, a troubling development in Brussels. At the same time, it offers a direct line to western European markets with declining indigenous production and an abundance of LNG regasification capacity, representing Gazprom’s marginal competitor. If it is built, Gazprom would be in a powerful position to negotiate the terms governing any future deliveries through Ukraine after 2019 when the current transit agreement expires. In a similar vein, NS2 immediately undermines the position of traditional Central …read more
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