Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.