The $12-billion pipeline beneath the Baltic Sea is set to double Russian natural gas shipments to Germany, Europe's largest economy. It avoids Ukraine, depriving Kyiv of essential gas transit fees.
Moscow's current agreement with Kyiv runs out in 2024, and the lack of transit fees would likely cause significant economic problems for Ukraine.
Germany had made commitments to support Ukraine to renew its energy mix and will support the development of renewable projects with a total of €1 billion ($1.2 billion) via bilateral projects.
Read the original story here.
Sign in or become a tippinsights member to join the conversation.
Just enter your email below to get a log in link.