Ongoing tensions have prompted a freeze on the Russian pipeline.
Germany has been working with Russia on the construction of the Nord Stream 2 natural gas pipeline. This pipeline, which is estimated to be worth approximately $11 billion, would double the amount of natural gas coming into Germany and nearby European territories from Russia. The pipeline is technically already complete but has yet to be opened as it awaits confirmation from German regulators.
Due to the ongoing tensions between Russia and Ukraine, however, Germany has decided to freeze the Nord Stream 2 project indefinitely. The major impetus for this decision was Russian President Vladimir Putin’s decision to formally recognize the Russian separatist regions of eastern Ukraine, sending troops in as “peacekeepers.”
“In light of the most recent developments we must reassess the situation in particular regarding Nord Stream 2,” German chancellor Olaf Scholz said at a news conference.
Scholz explained that he’d requested that the German Economy Ministry take steps “to make sure that this pipeline cannot be certified at this point in time, and without this certification Nord Stream 2 cannot operate.”
“The appropriate departments of the Economy Ministry will make a new assessment of the security of our supply in light of what has changed in last few days,” he added.
