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Germany explained Europe's need for Nord Stream 2


May, 21 2021
watermark Economic news

Representatives of the German Bundestag said that the practical economic interests of Germany and other European countries have finally outweighed US political opposition to the Nord Stream 2 project.


The US State Department previously said that Nord Stream 2 AG, which is building the gas pipeline, is subject to sanctions, but refused to implement them, citing national security. White House officials admit that the pipeline will now be difficult to stop.


Moreover, Germany has already raised the issue of the possibility of transporting hydrogen through this pipeline. According to Heiko Hessenkemper, member of the Bundestag Committee for Economic Affairs and Energy, this should also become an important part of Germany's climate policy.


Also, Germany is confident that not only does it need Russian natural gas, but also other countries, such as the Netherlands, which used to be exporters and are now becoming dependent on natural gas imports. Politicians note that «the building blocks have now been laid for the normalization of relations and the growth of European-Russian trade.» Therefore, there is no doubt that the gas pipeline will be completed.



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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.