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Germany explained Europe's need for Nord Stream 2


Máj, 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 is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.