Berlin plans law change to prevent Nord Stream 2 from ever operating
Berlin plans law change to prevent Nord Stream 2 from ever operating (Getty Images)
Germany plans to ban the sale of the Nord Stream 2 pipeline by law. This measure is deemed necessary to prevent its commissioning, according to a statement from the German Economy Ministry, Reuters reports.
German Chancellor Friedrich Merz has vowed to ensure that the Nord Stream 2 pipeline is never commissioned. However, the country currently lacks the legal basis to block the sale of the pipeline, which is owned by Gazprom (Russia's state-controlled energy giant).
At present, the Swiss-registered pipeline operator Nord Stream 2 — fully owned by Gazprom — is undergoing bankruptcy proceedings. This could lead to the sale of its assets, and Germany has no legal instruments to prevent such a deal.
In a parliamentary response dated June 24, German Economy Ministry stated that the government is considering amending the Foreign Trade Act during the current legislative term, as the existing law does not provide oversight of investments in such types of acquisitions.
Former State Secretary at the Economy Ministry and Green Party lawmaker Michael Kellner told Reuters that the government must close this loophole.
"Pipelines in Germany or Europe do not belong in the hands of Russian or American companies," he added.
Rumors about the purchase of Nord Stream 2
Earlier, The Insider reported that American businessman Stephen Lynch might attempt to purchase the Russian Nord Stream 2 pipeline.
According to the outlet, if Lynch succeeds in acquiring Nord Stream 2, it could open the door to supplying Russian gas to Germany via a pipeline that would formally be considered "American."
