FT: Germany Is Preparing A Decisive Blow To Nord Stream
- 28.06.2025, 11:50
Legislation could be amended to block the launch.
The government of Friedrich Merz is considering amending legislation to finally rule out the launch of the Nord Stream gas pipelines, the Financial Times reports, citing correspondence from the German Ministry of Economy. According to the newspaper, Berlin is now discussing amendments to the norms on checking foreign investments - in this way the authorities want to prevent a change of ownership of the pipeline, which could be a prerequisite for the resumption of its work.
The initiative of the German Cabinet to tighten control over a potential change of ownership is directly related to information about attempts by businessmen associated with Russia and the United States to re-launch Nord Stream. In March, the FT wrote about the negotiations, which were led, among others, by American financier Stephen Lynch - he does not hide his confidence that Europe will sooner or later return to Russian gas, and for this, in his opinion, it is enough to restore one of the strings of the pipeline. On May 6, he met with representatives of the German Ministry of Economy. The ministry acknowledged this fact in a response to a request from Green Party MPs, but emphasized that it was an informal meeting as part of "the usual exchange of views with experts."
Berlin now faces limitations in its ability to intervene: the operator of the Nord Stream 2 pipeline, Nord Stream 2 AG, is registered in Switzerland, and Germany does not legally control it directly. At the same time, current legislation does not give the authorities sufficient leverage to prevent a potential transfer of assets - the most Germany can do is to refuse to certify the pipeline. Therefore, the question is about adjusting the regulatory framework to completely block the possibility of restarting.
Gas is still a sensitive topic for German politics. The far-right Alternative for Germany is actively advocating the restoration of Russian gas supplies, an idea also supported by some representatives of the CDU and SPD, citing rising energy prices and pressure on industry. However, the government emphasizes in an official response to the Greens that it fully supports the European Commission's policy of phasing out Russian energy supplies. "Germany no longer buys Russian pipeline gas. Russian LNG is also not supplied to German terminals," the Ministry of Economic Affairs said in a statement.
In September 2022, explosions occurred on both Nord Stream pipelines connecting Russia and Germany under the Baltic Sea. "Nord Stream 1" was completely out of service, while "Nord Stream 2" had only one string surviving. By that time, neither of the routes was already in operation: the first was under scheduled repair, and the second was never put into operation after the Kremlin recognized "DNR" and "LNR".
According to the Financial Times, Mattias Warnig, a longtime friend of Putin, a former Stasi employee and CEO of Nord Stream 2 AG, was also involved in the idea of restoring Nord Stream 2. He, as the publication wrote, wanted to attract American investors and through them establish communications between Russia and the new U.S. administration.