The German government is considering converting parts of the Nord Stream 2 gas pipeline into a connection for an LNG terminal on the Baltic Sea coast.
Magazine Der Spiegel reported on June 24 that the German economy ministry is considering expropriating the part of the pipeline system located on German territory and cutting it off from the rest of the pipeline. The report did not cite any sources.
Russia said it would be a matter for lawyers if Germany took such steps.
Russian gas giant Gazprom completed the Nord Stream 2 pipeline, which was designed to double the flow of Russian gas direct to Germany, at the end of last year but it has yet to be used. German Chancellor Olaf Scholz announced it would not go into operation after relations with Moscow broke down ahead of Russia’s invasion of Ukraine.
Flows of natural gas from Russia have been declining for weeks, and Germany, mindful of the risk of economically damaging energy shortages, is looking for emergency landing locations for liquefied natural gas bought on the world spot market.
Germany has chartered four specialized carriers, so-called FSRUs, to regasify LNG at sea and feed it into onshore pipeline systems.
A Baltic Sea landing site to complement those at Wilhelmshaven and Brunsbuettel on the North Sea, would expand capacity.
Eastern and southern Germany are especially dependent on Russian pipeline gas and would benefit from the diversification, Spiegel said.
Onshore pipelines that would have carried Nord Stream 2 gas could be repurposed.
Recommended Reading
Infinity Natural Resources’ IPO Nets Another $37MM
2025-02-07 - Underwriters of Infinity Natural Resources’ January IPO have fully exercised options to purchase additional Class A common stock at $20 per share.
Equinor Commences First Tranche of $5B Share Buyback
2025-02-07 - Equinor began the first tranche of a share repurchase of up to $5 billion.
Rising Phoenix Capital Launches $20MM Mineral Fund
2025-02-05 - Rising Phoenix Capital said the La Plata Peak Income Fund focuses on acquiring producing royalty interests that provide consistent cash flow without drilling risk.
Alliance Resource Partners Adds More Mineral Interests in 4Q
2025-02-05 - Alliance Resource Partners closed on $9.6 million in acquisitions in the fourth quarter, adding to a portfolio of nearly 70,000 net royalty acres that are majority centered in the Midland and Delaware basins.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.