What Happened: The operator of the Nord Stream 2 pipeline said that the completion of the project could face a delay of up to eight months and cost an additional $740 million due to issues obtaining the permits needed to access Denmark's waters on the Baltic Sea, Reuters reported Aug. 8.
Why It Matters: Roughly 70 percent of the Nord Stream 2 pipeline — which would send Russian natural gas directly to Germany by usurping Poland, the Baltic states and Ukraine — has so far been completed. However, further delays in obtaining Danish approval could jeopardize the project, or at least make the remaining 30 percent more costly and timely to finish.
Background: The Danish Energy Agency has requested an environmental assessment of pipeline construction through Denmark's exclusive economic zone. On July 18, Russian gas giant Gazprom said that it expected Denmark to approve the route application for Nord Stream 2 in October.