Europe is banning Russian gas imports, sealing the fate of Nord Stream one and two pipelines. The move, effective by the end of 2027, will turn these pipelines into stranded assets worth billions. Nord Stream two alone cost eleven billion dollars to build, designed to double cheap Russian gas flows directly to Germany while bypassing Ukraine. However, with neither side budging on key territories in ceasefire talks, Ukraine would be furious at any revival benefiting Russia, and Poland demands the pipelines get dismantled entirely. Germany, facing struggling industries from sky-high energy costs, might eye Russian supplies again. Meanwhile, the U.S. wants to keep dominating Europes liquefied natural gas market. Repairs could happen for about one billion dollars, but fresh EU rules make reintegrating Russian gas nearly impossible short-term. Russia is pivoting to Asia through pipelines like Power of Siberia to China, leaving its European gas as a tough sell. With prices dropping and more U.S. terminals coming online, Europe seems set to move on without Moscows fuel for the long haul.

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