IMF describes Ukraine’s losses from Operation Nord Stream 2


Once Nord Stream 2 is operational, Ukrainian transit revenues could drop to $ 1.2 billion per year.

“Over the past five years, Ukraine has received on average just over US $ 2.5 billion per year in exchange for making its pipelines available to Gazprom. In 2021, transit costs are expected to be around 40% lower than in recent years, ”says the IMF report on Ukraine.

As noted, once Nord Stream 2 is operational, the volume of gas passing through Ukraine could decrease further, with Ukrainian transit revenues estimated to be around $ 1.2 billion per year.

As reported, the German energy regulator, Bundesnetzagentur, suspended the certification procedure for Nord Stream 2 AG and granted the request of the Ukrainian gas transmission network operator to participate in the procedure. As a result, Russia took the decision to establish a subsidiary in accordance with German law, which will become the owner and operator of the German part of the pipeline.

On September 10, the Russian gas monopoly Gazprom announced that the construction of the Nord Stream 2 gas pipeline was completed. It was built from Russia to Germany under the Baltic Sea bypassing Ukraine. The only shareholder in the project is Gazprom.

Ukraine, Poland, the Baltic States and the United States oppose the project. The German side assures that it will do everything possible to preserve the status of transit country of Ukraine and expects guarantees from Russia that the gas transit contract through Ukraine will be extended after the expiration of the current 5-year agreement signed in December 2019.

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