Russia, Gazprom ready to supply gas to the EU
Gazprom could re-enter the field. The Russian giant, according to what he writes Reuterswould be ready to reactivate Nord Stream 2 to supply gas to our continent, after the EU stopped on the sidelines of the invasion in Ukraine.
The German insurers, Allianz and Munich Re, in fact, they renewed the Nord Stream 1 policy, covering the damage caused by this summer’s sabotage (about half a billion euros) and the problems that have led to numerous interruptions in the course of activities. Nord Stream was the main route for European supplies for a decade, with one transportation capacity of 55 billion cubic meters of gas.
Scholz’s government would not be against re-establishing relations with Moscow, even if Berlin – at the moment – has not yet issued any statements in this regard. Yet, there are those who are already putting their hands forward. Michael Kretschmer, the conservative leader of the East Saxony region, told the Berliner Zeitung newspaper that the pipeline should be repaired and Germany should retain the ability to import again through it.
It is difficult to establish what the future move of the German executive will be. The fact is, however, that the majority of German shareholders within Nord Stream (Wintershall Dea and E.ON, with Nederlandse Gasunie and the French Engie among the shareholders), are in favor of preserving at least the functionality of the damaged pipeline, a position that could weigh heavily on Olaf Scholz and which would inexorably lead to a new rapprochement with Putin. Add to that the fact that Russia holds a 51 percent stake in Nord Stream 1, through a subsidiary of state-owned energy group Gazprom.
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