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Nord Stream 2 Hits Another Pothole - Germany's Green Party

RUSSIA
  • Germany's Green party emerges as the next major threat to the Nord Stream 2 Pipeline with supporter Angela Merkel exiting the scene and the conservative party losing traction.
  • the Green party has seen strong gains in two regional elections, emerging as something of a kingmaker in the next ruling coalition
  • The risk is that the massive project lies dormant if the Green party gains more influence: "Nord Stream 2 "is causing grave geopolitical problems and it contradicts European climate targets. This means that this pipeline should not be completed - that's what we want to state clearly.
  • Merkel's government says the project's commercial value outweighs any concerns and will give added flexibility to the European power mix.*
  • Another risk to completion is the lack of certification that would enable operations to start.
  • It is still unclear whether Russia has found a solution to replace Norske Veritas Holding AS, which provided a specialized verification and certification service to the project.
  • Danish energy Agency says Nord Stream 2 could still hire any third party that can provide the certificate of compliance documenting that installations fulfill legislation, But there are limited options available to meet such specific demands.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News

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