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FX.co ★ Germany backs up Nord Stream 2

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Forex Humor:::2018-01-24T08:48:23

Germany backs up Nord Stream 2

Another European country came out in support of the Nord Stream 2 project. Germany is not happy about the possibility of freezing during long winter evenings without the Russian gas. Berlin became a very serious ally of Russia in disputes with the EU. The German government is sure that any European Commission’s attempts to hinder the project contradict not only the common sense but also the standards of the European and international law.


Members of the EC are sure that they protected the goals and interests of the Energy Union, while Germany believes that the EC statements do not contain any explanations or sound reasons that would show how the proposed changes can contribute to the goals of the Energy Union. If we do not take into account political issues that surround the Nord Stream 2 project, then the EC decision is really illogical. However, since Europe sticks to the imposed sanctions against Russia, everything fits together. It is odd when the EU led by Germany, on the one hand, impose sanctions, and on the other hand, wants to increase supply of gas from Russia, which is difficult due to current sanctions.


The Nord Stream 2 project involves the construction of two pipelines with a total capacity to supply 55 billion cubic meters of gas a year from Russia to Germany via the Baltic Sea. The new pipeline is to be laid next to the already operating Nord Stream. The project cost is estimated at 9.5 billion euros.

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