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IMF has calculated possible losses of Ukraine because of Nord Stream 2 launch

How much Ukraine will lose because of the "Nord Stream — 2". Photo: © Nord Stream 2 / Nikolai Ryutin

How much Ukraine will lose because of the "Nord Stream — 2". Photo: © Nord Stream 2 / Nikolai Ryutin

Because of the Russian gas pipeline Nord Stream 2, Ukraine's annual revenues from providing into service of its gas transmission system will decrease to about $1.2 billion by 2024. This is stated in the IMF report, Ukrinform reports.

Over the past five years, Ukraine has got an average of more than $2.5 billion annually for providing Gazprom with its gas pipelines.

The IMF expects that in 2021 transit fees will be about 40% less than in recent years, and after the Nord Stream 2 launch, the volume of gas flowing through Ukraine may further decrease. After that, according to the IMF forecast, Ukraine's revenues from transit may even decrease to $1.2 billion a year.

Context. The Gas Transmission System Operator of Ukraine expects to lose $5-6 billion annually if the Nord Stream 2 gas pipeline is launched. According to it, $1.5 billion will be lost due to the termination of transit by Russia. In this case, gas in Ukraine will rise in price, since its transportation from the EU will be more expensive by about $50 per cubic meter. This will lead to economic losses of another 2-3 billion euros.

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