EU demand for Russian gas to keep Ukraine needed after Nord Stream 2

Rising EU demand for Russian natural gas is making a case for keeping the Ukrainian transit route open even after Russia's controversial 55 Bcm/year Nord Stream 2 pipeline to Germany comes online. Russia wants Nord Stream 2 flowing gas by end-2019, when its transit contract with Ukraine expires. But Nord Stream 2 is facing multiple challenges which could cause delays, including regulatory uncertainties under EU law, a US sanctions risk that could deter investors, and planning issues that could force route changes.

Meanwhile, Russian gas flows via Ukraine reached a six-year high in 2017, and Russia could have to cap exports to Europe after 2019 if it dropped the Ukrainian route entirely. S&P Global Platts editors Siobhan Hall and Stuart Elliott discuss EU gas demand, transit capacities and regulation, as well as the outlook for EU, Russian and Ukrainian gas relations.

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Source: S&P Global Platts (via YouTube)
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