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June 27, 2022

Germany considers repurposing parts of the Nord Stream 2 pipeline

Russia said it would take legal action against Germany for this move.

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The German Government is considering repurposing parts of the Russia-led Nord Stream 2 gas pipeline for liquefied natural gas (LNG) use, reported Magazine Der Spiegel, citing the German Economy Ministry.

The proposal would involve expropriating the German section of the Nord Stream 2 pipeline system by cutting it off from the rest of the pipeline and converting it into a connection for an LNG terminal on the Baltic Sea coast, reported Reuters, citing the German magazine.

In response, Russia said it would take legal action against Germany, which imported approximately 55% of its natural gas from Moscow last year.

Completed by Russian gas giant Gazprom at the end of 2021, the Nord Stream 2 pipeline was designed to double the Russian gas flow to Germany.

In February 2022, German Chancellor Olaf Scholz halted the certification process for the Nord Stream 2 project in the wake of Russia’s military incursion against Ukraine.

Germany has chartered four floating storage regasification units (FSRUs) for the at-sea regasification of LNG. The regasified LNG will then be fed into onshore pipeline systems.

The country is also considering repurposing onshore pipelines that would have carried Nord Stream 2 gas.

The Group of Seven (G7) nations are also discussing a potential cap on oil imports from Russia, a  government official of Germany said before the commencement of the annual three-day G7 summit, reported Reuters. This year, the summit is being held in Germany.

According to the Financial Times, the move is expected to limit the surging crude price benefit to Russia while easing the impact of higher energy prices on western countries.

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