Breaking News:

Russia Halts Oil Pipeline Exports To Europe Via Ukraine

Germany Considers Expropriating Nord Stream 2 For LNG Flows

Germany is considering expropriating the German section of the Russia-led Nord Stream 2 gas pipeline project, cutting it off from the rest of the pipeline, and using the part on German territory for connecting to LNG supply that will come from Baltic Sea ports, German magazine Der Spiegel reported on Friday.

The plan will likely escalate the gas row between Germany and Russia, Der Spiegel comments on the information, for which it didn’t cite sources.

Russia completed the Nord Stream 2 project last year, but Germany halted the certification of the project late in 2021. After Russia invaded Ukraine at the end of February 2022, Germany suspended indefinitely the project that was designed to double Russian gas flows to Germany. “We now have to reassess the dramatically changed situation: This also applies toNord Stream 2,” German Chancellor Olaf Scholz said at the time, adding that “The certification cannot take place now.” 

Since the Russian invasion of Ukraine, Germany, Europe’s biggest economy, has set out plans for two LNG import facilities, at Brunsbuettel and Wilhelmshaven, in a bid to diversify supply from Russia, which accounted for around 40% of German gas consumption before the war.

Russia, for its part, has drastically cut gas deliveries via Nord Stream 1 to Germany in recent weeks, prompting Germany to rely more on electricity generation from coal in order to conserve gas and fill its gas storage by winter.

Earlier this week, Germany triggered the second phase of its three-phase gas emergency plan as it braces up for the possibility of a complete halt of gas supplies from Russia via the Nord Stream pipeline.

In an official statement, Economy Minister Robert Habeck said, as quoted by Reuters, that Germans would need to begin reducing their energy consumption and blamed the current state of affairs on Russia’s President Vladimir Putin.

By Tsvetana Paraskova for Oilprice.com 

More Top Reads From Oilprice.com:

Back to homepage


Loading ...

« Previous: India's Russian Oil Imports Soar 50-Fold

Next: Centrica Turns To Former Soldiers In Push Towards Net-Zero Ambitions »

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More

Comments

  • George Doolittle - 26th Jun 2022 at 9:16pm:
    So no one allowed for the Prime Minister of the Netherlands to attend the G-7, eh?

    Sounds like a euro-tard problem to me still now with an exclamation point therefore. Since when is the G-7 France, Great Britain and Germany again? Anyhow maybe Spain will stop complaining that Portugal even exists as the problem for 5 minutes and speak up for, well...Spain!

    Who knows.

    Glad to hear Putin finally ahem *"visited a foreign Country at last"* ahem. I'm sure he'll be showing up in Mauripol any day now as well to do his Troop review. Long $nee Next Era Energy

    Strong buy
Leave a comment