HomeMediaLatest NewsBankruptcy postponed: what will happen to Nord Stream-2

Bankruptcy postponed: what will happen to Nord Stream-2

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Finance.Mail.ru about the future of the Nord Stream–2 gas pipeline.

"In the baseline scenario, Nord Stream 2, unfortunately, will never work again, its operator will soon be bankrupted and sold for next to nothing. Who will buy it, it seems to me, is not so important, because without Russia's willingness to supply gas and Germany's willingness to buy it, it is a suitcase without a handle," Alexey Belogoryev believes.

In his opinion, even if we fantasize and imagine that relations between Moscow, Berlin and Brussels will suddenly improve fundamentally at some point, and there will be a great demand for Russian gas in Germany and neighboring countries, then legally it will be much easier to restore the operation of Nord Stream 1. No sanctions were imposed against the participants in its construction and the operator. It worked for about 10 years without sanctions until the moment of the bombing.

"Moreover, in any case, this demand will be incomparably lower compared to the fact and expectations until 2022. Most likely, one branch of Nord Stream 1 will be enough to satisfy it “, Belogoryev believes. Earlier, the Prime Minister of Saxony, deputy chairman of the Christian Democratic Union, Michael Kretschmer, called for the Nord Stream 1 restoration.


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