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IMF outlines Ukraine’s losses due to Nord Stream 2 operation

IMF outlines Ukraine’s losses due to Nord Stream 2 operation
26 of November 2021 г.
Once Nord Stream 2 is operational, Ukraine’s transit revenues could fall to $1.2 billion per year.

“Over the last five years, Ukraine received an average of just over US$2.5 billion per year in return for making its gas pipelines available to Gazprom. In 2021, transits fees are expected to be around 40 percent less than recent years,” reads the IMF report on Ukraine.

As noted, once Nord Stream 2 is operational, the volume of gas passing through Ukraine could decrease further, with Ukraine’s transit revenues forecasted at around $1.2 billion per year.

As reported, Germany's energy regulator, the Bundesnetzagentur, suspended the procedure to certify Nord Stream 2 AG and granted the request of Gas Transmission System Operator of Ukraine to participate in the procedure. As a result, Russia made a decision to create a subsidiary in accordance with German law, which will become the owner and operator of the German part of the pipeline.

On September 10, Russian gas monopoly Gazprom announced that the construction of 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.

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