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Nord Stream 2: Rule no more, but still divides

Nord Stream 2 (NS2) would lead to a sizeable capacity increase of the gas route connecting Russia and Germany. This Issue Paper examines the economic, strategic, legal and political implications of NS2 from an EU perspective. It draws 12 recommendations. For Marco Giuli, the European Union and its member states should:

  1. Confront the risks of market segmentation associated with Nord Stream 2.
  2. Adopt a radical integration approach when revising the gas market design in 2020.

  3. Ensure that Central and Eastern European Countries (CEECs) can rely on sufficient options.
  4. Encourage, where necessary, regional pooling of gas purchase in CEECs.
  5. Perform new energy security stress tests on the assumption of the construction of NS2.
  6. Focus diversification efforts on intra-EU interconnections and flexible, small-scale LNG import facilities in the most vulnerable sections of the internal market.
  7. Support the review of the Gas Directive.
  8. Subject any approval of NS2 to Russia’s fulfilment of the Minsk II requirements.
  9. Make the continuation of the Ukrainian route an attractive option for all stakeholders by pushing for lower transit tariffs and the full alignment with EU legislation.
  10. Include large gas import projects in the National Energy and Climate Plans.

The full paper published by the EPC can be found here – http://www.epc.eu/documents/uploads/pub_8613_nordstream2.pdf?doc_id=2010http://www.epc.eu/documents/uploads/pub_8613_nordstream2.pdf?doc_id=2010

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