Why Nord Stream 2 May Not Be Ready in Time for Winter in EU
- Gazprom still needs key approval from German regulator and EU
- BofA says startup is possible in 2021, VTB estimates mid-2022
A pressure gauge on pipework at the Gazprom PJSC Slavyanskaya compressor station, the starting point of the Nord Stream 2 gas pipeline, in Ust-Luga, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain -- and some of them could take months to clear.
The 750-mile link under the Baltic Sea to Germany has been completed and has begun to receive gas for testing. Exporter Gazprom PJSC this week got Danish approval for one of the lines to start, but it needs a crucial nod from Germany before fuel can flow to western Europe. Here’s a look at what lies ahead.