Germany suspends opening of Russian gas pipeline Nord Stream 2 | Financial

Scholz said he would not provide certification for the commissioning of the pipeline, which has already been completed but is still awaiting formal approval from the German government.

Gas supplies to the European Union are currently unaffected by the German government’s decision. That said a spokesman for the European Commission. According to the spokesman, the EU is currently in a “pretty safe situation” when it comes to gas supplies and supplies.

Nordstream 2 can transport 55 billion cubic meters of gas from Russia to Germany. The pipeline is 1200 kilometers long and runs through the bottom of the Baltic Sea.

US opponent

The United States has always been vehemently opposed to the project, as has Ukraine. According to the US, Germany and Europe are becoming too dependent on Russian natural gas with the pipeline.

US President Biden previously said during a press conference with Scholz that Nord Stream 2 would not be commissioned if Russia invades Ukraine. Ukrainian President Zelensky already called for Nord Stream 2 to be ‘stopped immediately’. In Germany, the call to cancel Nord Stream 2 was already getting louder.

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Half of the investment in the pipeline has been made by the Russian state energy company Gazprom. The rest of the nearly €10 billion in total will be provided by Engie, OMV, Shell, Uniper and Wintershall.

The first Nord Stream pipeline was opened in 2011, and in 2015 it was decided to build Nord Stream 2 to increase capacity.

Dependent

Europe is about 40% dependent on Russia for the supply of gas, energy experts from ABN Amro previously calculated. Russia now mainly supplies gas through pipelines through Ukraine and Belarus. With the Nord Stream, Germany can purchase gas directly from Russia.

The plans for the first Nord Stream were set up by the former German Chancellor Gerhard Schröder. The Social Democrat had long had a good relationship with Russian leader Vladimir Putin. Schröder is now a supervisor at the Russian state group Rosneft and Gazprom.

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Ukrainian Foreign Minister Dmitro Koeleba called German Chancellor Olaf Scholz’s decision to stop the Nord Stream 2 certification process “morally and politically appropriate under the current circumstances.” “True leadership means making difficult decisions in difficult times. Germany proves that,” Koeleba wrote on Twitter.

Russian Deputy Foreign Minister Andrei Rudenko stated that “Moscow is not afraid of anything”, according to Interfax news agency when asked about Berlin’s decision on Nord Stream 2. Energy Minister Nikolai Shoelginov has said that the large quantities of gas that Europe now obtains from Russia is not can be replaced by importing liquefied natural gas (LNG) from other countries. President Vladimir Putin said on Tuesday that Russia will continue to supply gas to Europe.

The Russian state gas group Gazprom, owner of Nord Stream 2 that runs through the Baltic Sea, declined to comment when asked, Reuters news agency.

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