Makohon: Ukraine will lose up to $3 bln annually if Nord Stream 2 launched
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Ukraine has almost completely lost its gas transit from the Russian Federation to Turkey, Greece, and Bulgaria after the first line of the TurkStream gas pipeline was launched.
"Unfortunately, it has to be stated that Ukraine has actually completely lost gas transit from Russia to Turkey and Southern Europe (Greece and Bulgaria) after the first line of the TurkStream was launched," CEO of Gas Transmission System Operator of Ukraine LLC Serhiy Makohon posted on Facebook.

According to Makohon, "after the pipeline in Bulgaria is constructed and the second line of the TurkStream is launched, Ukraine will lose another part of the transit to Hungary and Serbia (up to 15 billion cubic meters)." The launch is expected in late 2020 or early 2021.

“Therefore, it is critically important to prevent the completion of construction of Nord Stream 2 as [its launch and operation] will lead to a complete loss of transit from 2025. For Ukraine, this is $2.5-3 billion in annual revenues from transit,” he noted.

Makohon added that a potential decision of the German energy regulator to extend the rules of the EU’s Gas Directive to Nord Stream 2 could significantly reduce the profitability of the project as Gazprom would only be able to load 50% of its capacity. “But now is not the time to ease up. Fight against Nord Stream 2 should remain a key task not only for GTS Operator of Ukraine and Naftogaz of Ukraine but also for the Ministry of Foreign Affairs and the Ministry of Energy and Environmental Protection,” the official emphasized.

On January 8, 2020, Russian President Vladimir Putin and President of Turkey Recep Tayyip Erdoğan officially launched TurkStream gas pipeline.