Nord Stream & European Energy


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The Gazprom-led Nord Stream Two gas pipeline project supported by Russia, Germany and a consortium of five Western European companies is slated to be completed by the year 2019. Parallel to the existing Nord Stream One pipeline on the Baltic seabed, Nord Stream Two would double the system’s total capacity to 110 billion cubic meters (bcm) annually, all earmarked for direct delivery to Germany. This volume will constitute 80 percent of all Russian gas supplies to Europe, channeled through a single transit route. The Nord Stream project would bypass a number of key U.S. allies in Central-Eastern Europe, including Ukraine, potentially eliminating Ukraine as a major transit route to Europe.

The project presents a dilemma for the European Union, which will have to find a consensus among its members to protect its energy security and anti-monopoly policies. It would also undermine the expansion of U.S. LNG supplies to Europe if Gazprom starts dumping gas prices to undercut the budding spot market and unfairly compete with American LNG companies.

The Jamestown conference “Nord Stream and European Energy Security” will provide a detailed and comprehensive analysis of the Russian objectives, European responses, and American policies related to this large project.

Location

Carnegie Endowment for International Peace
1779 Massachusetts Ave NW
Washington DC 20036

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